The War Consequences on Israel-India Relations

Surprisingly, after decades, India stands by Israel and was among the first to announce its support after the events of October 7. Against this background, Tel Aviv University Alumni Organization, headed by Sigalit Ben Hayoun, hosted a webinar on "The War Consequences on Israel-India Relations".

The webinar panelists were:

• Naor Gilon - Ambassador of Israel to India, Sri Lanka and Bhuta, and an alumnus of Tel Aviv University Faculty of Social Sciences.

• Adv. Anat Bernstein-Reich - Chairwoman of Israel-Asia Chamber of Commerce and CEO of BDO Israel-India Investment Banking, and an alumna of Tel Aviv University Faculty of Law.

• Adv. Benjamin Grossman - Partner & Head of Indian Legal Practice at Amit, Pollak, Matalon & Co. law firm, Vice Chairman of Israel-Asia Chamber of Commerce, and an alumnus of Tel Aviv University faculties of Law, Engineering and Management.

The panel moderator:

• Dr. Ori Sela - Senior lecturer at Tel Aviv University Department of East Asian Studies, a senior visiting researcher at the INSS's Israel-China Policy Center—The Diane and Guilford Glazer Foundation, and an alumnus of Tel Aviv University Faculty of Humanities. 

Ambassador Naor Gilon noted that:

"India's support for Israel after the October 7 attack is extraordinary and is a combination of the excellent relations between the countries in recent years and India's uncompromising stance against terrorism, which it is itself a victim of and a fighter against."

 

"India is becoming a leading country in the world. It is the most populous country, the fifth largest economy, and the fastest growing one, and is gaining self-confidence accordingly. Israel enjoys a special relationship with India and it is important to build on this. Technology will be a key area in future relations between the countries. Economists in Israel need to stop fearing and understand the great economic potential in India. There is almost everything here: talent, production capabilities, capital. This is the moment to enter India. It takes time, requires patience and a good local partner, but the long-term potential is great and there are quite a few success stories of Israeli companies who have already done so.'

 

"The Gulf countries are very important to India. About 7 million Indians live there, some of them business owners and CEOs. They are major trading partners and investors in India. The Abraham Accords and the regional economic initiatives that followed, such as The I2U2 Group (a grouping of India, Israel, the United Arab Emirates, and the United States) and The India-Middle East-Europe Economic Corridor (IMEC) only add value to the India-Israel relations. Also, there is potential for cooperation between India and Israel in a mini-lateral format with other countries in Africa and the Asia-Pacific."

Anat Bernstein-Reich had this to say: 

"India will be the third largest economy in the world within a few years and Israeli companies cannot ignore this market. Even if it is difficult, one must make an effort and not give up. It is important to deepen the economic ties between Israel and India whether by Indian investments in Israel or Israeli investments in India. The strategic connection between India and Israel depends on the two countries' economic interests and ties. India, with its 56 billion dollars bilateral trade with Saudi Arabia, can help connect Israel to Saudi Arabia."

Benjamin Grossman explained that:

"The Indian government and business sector support of Israel after the events of October 7, which deviated favorably from India's reactions to other events in the past, emphasized the understanding that India is Israel's long-term strategic business partner. The economic progress of India, which is currently the fifth-largest economy in the world and is on track to become the third-largest economy by the end of this decade, creates almost endless business potential for Israeli companies of all sizes and in a wide variety of fields. India has a very high regard for Israel's ability. However, success requires correct and appropriate business and legal conduct, a lot of patience, and less judgment. It is important to know that in the last decade, India has been working to facilitate foreign business activity in many aspects of bureaucracy, regulation, protection of intellectual property, and legal proceedings. All of these are supposed to and can make India a major partner of Israel in the coming years."

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