India, Israel keen on finalising FTA

Israel’s handing over of the strategic port of Haifa to Indian company, the Adani Group, is a reflection of the trust that the country has on India, Israeli Ambassador Naor Gilon said on Wednesday.  At a media briefing in New Delhi, the envoy also said that both India and Israel are keen on finalising the proposed free trade pact as it could further boost overall bilateral trade ties.Gilon indicated that there could be a forward movement on the Free Trade Agreement (FTA) during the upcoming “high-level” visit. Describing defence ties between the two countries as very strong, he said Israel has an advantage to support India in its efforts to become self reliant in defence manufacturing because of the “long-standing” trust in the area between the two countries.

To a question on Congress leader Rahul Gandhi's allegations of the Adani Group being favoured in India-Israel defence contracts, the envoy said that Israeli companies have around 80 joint ventures with Indian companies and suggested that the defence ties are not about only one firm. He said the Indian companies with whom Israeli firms have forged joint ventures included the Tata Group, Kalyani Group, Bharat Electronics Ltd (BEL), Hindustan Aeronautics Ltd (HAL) and Bharat Dynamics Ltd (BDL). On the Adani Group acquiring the Haifa port last month, Gilon said it was sign of Israel’s trust on India and it could boost bilateral trade. It was a very important move from our side as Haifa is a strategic port, he said. The Adani Group last month acquired the strategic port of Haifa for USD 1.2 billion (one billion =100 crore) and vowed to transform the skyline of this Mediterranean city as part of its decision to invest more in the Jewish nation.