INDIA-ISRAEL TRADE

In the past three years, India has bought defence equipment worth $5
billion from Israel. Two weeks ago, defence secretary Vijay Singh led a
delegation to Israel to discuss the purchase of AWACS planes and
missiles from Israel Aerospace Industries.
The terrorists’ choice of the Israeli centre in Mumbai could partly
be driven by the fact that a large number of Israeli companies have,
over the past three years, invested in the property market around
Mumbai. There are many property deals either in the pipeline or at
various stages of completion.
Jerusalem Economic Corporation (JEC), through its Indian subsidiary,
was eyeing a huge tract of farm land in Thane district. The deal size
could be around $300 million, sources say.
Last year, Elbit Medical Imaging, an Israeli medical equipment
maker, had signed an agreement with Ambuja Realty to invest over $1
billion in India. It plans to invest in hospitals and hotels, besides
establishing a chain of hospitals in partnership with Ambuja.
Another Israeli group, Alony Hetz, has set up a consortium with
Israeli and Australian companies to invest in Indian real estate
sector. Alony Hetz holds 40% share in the consortium that plans to
invest $100 million. It recently signed an MoU to build a $160-200
million, 450,000-sq m holiday home project near Mumbai. Electra Real
Estate, Nochi Dankner and Gershon Salkind have also charted plans for
Indian realty sector.
The Indo-Israeli connection, of course, transcends business. “Some
25,000 to 30,000 Israeli youths — apart from business visitors and
regular tourists — take a break in India after completing rigorous,
mandatory military training. Goa, Himachal Pradesh and Mumbai are
popular tourist destinations for Israelis. 

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