** Important : India and Israel are going to celebrate 30 years of diplomatic relations in the year 2022. **
Background of India-Israel relations:
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India had formally recognised Israel in September 1950.
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Embassies were opened in 1992 after full diplomatic relations were established.
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Since the upgradation of relations in 1992, defence and agriculture have been the main pillars of bilateral engagement.
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India has described its relationship with Israel as a multifaceted strategic partnership, which now includes negotiations on a free trade agreement as well.
Areas of cooperation between India and Israel:
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Technology:
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Israel is the Start-Up Nation and India is one of the world leader in technology so both the nations have a lot to gain from technological cooperation.
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Israel has also opened a consulate in Bengaluru, the hi-tech capital of India.
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Cooperation in green energy can further strengthen India and Israel’s positions as leaders in the global fight against climate change. To further cooperation in green energy Israel has also joined ISA (International solar alliance)
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Health: During the COVID pandemic, both the countries cooperated in research, and exchanged both assistance and medical equipment. Both countries also reached an agreement for mutual recognition of vaccine certificates.
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Geopolitical:
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India is one of Israel’s major partners in the Indo-Pacific region.
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It has many important interests in the Indo-Pacific, which include overcoming the global pandemic, fighting terrorism, expanding trade and addressing the threat posed by climate change.
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Human resources: There are a lot of Indian students who choose Israel for higher studies, they also influence relationship by being a bridge in the form of diaspora.
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Agriculture: Israel has been a leader in sustainable agriculture practices, India can learn a lot of from cooperating with Israel on agriculture and water resources management.
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Defence: Israel has been one of the India’s top four arms supplier apart from US, Russia, France.
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The relation has been further strengthened by the launch of new QUAD economic forum between India, Israel, US, UAE.
Trade and economic Relations
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The bilateral trade from $200 million in 1992 (comprising primarily trade in diamonds) has reached $5.19 billion in 2011. Since then it has stagnated around $4.5 billion.
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The diamonds constitutes close to 50% of bilateral trade between both countries.
Defence Relations:
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India is already buying an average of $1 billion per year in military equipment.
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The earliest India-Israel defence collaboration took place during the 1962 Sino-Indian war when Israel provided military aid to India.
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Israel also helped India during its two wars with Pakistan in 1965 and 1971.
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India reciprocated by helping Israel during the six-day war in 1967 by supplying spare parts for French-made Mystere and Ouragan aircraft as well as AX-13 tanks.
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In April 2017, India and Israel had signed a $2 billion deal for an advanced medium-range surface-to-air missile system which will be helpful for the Indian army to shoot down aircraft, missiles and drones etc.
Please update it as per latest development with Israel. I have seen lot of criticism with growing relation with Israel in this post but now the picture has changed, so please update