Israeli Minister of Economy Nir Barkat's four-day official trip to India was focused on promoting collaboration and enhancing trade ties between the two nations. In an interview with WION’s diplomatic correspondent Sidhant Sibal, Barkat stated that Israel views India as a "brother" and highlighted that cooperation between the two nations can boost and scale their growth. Israel is considered strong in technology, innovation, and new ideas, and the minister focused on how the two nations can complement each other's strengths. Israel's economy is heavily reliant on its tech sector, with 25% of all companies in the world in cybersecurity being Israeli.
In addition to collaborating in the tech sector, Barkat also highlighted Israel's strength in creating food from the sea and agrotech. India is expected to become the third-largest economy in the world, and Barkat believes that Israel can help India achieve that goal. He expressed his optimism in the potential of a free trade agreement between the two nations and emphasized how such an agreement can decrease obstacles and improve collaboration between the two countries.
Barkat also praised the Indian government's efforts to lead the country to more open markets and believes that Israel and India can benefit each other in boosting and swiftly moving for better economies. The Israeli Minister of Economy also commended Indian Prime Minister Narendra Modi's leadership in bringing India and Israel closer since 2014. The two nations have strong government-to-government ties and commonalities that can foster collaboration and growth.
During his visit to India, Barkat held a meeting with Indian Trade Minister Piyush Goyal and visited Mumbai as well. India-Israel Free Trade Agreement was also discussed during his meetings with Indian ministers. While India and Israel recognize the potential of a free trade agreement, they have also highlighted that there is a lot of collaboration between business clusters that are successful in Israel and India.
The potential for collaboration between India and Israel is immense, and both nations are optimistic about enhancing their trade ties. Israel's strength in technology, cybersecurity, agrotech, and food production from the sea, among others, can complement India's strengths and help the country achieve its goals of becoming the third-largest economy in the world. The four-day visit of Israel's Minister of Economy to India has laid the foundation for a strong and fruitful collaboration between the two nations.
