Tel Aviv: Commerce and Industry Minister Piyush Goyal on Thursday extended a strong invitation to Israeli businesses, urging them to invest in India’s expanding economy and its “limitless opportunities” across technology, pharmaceuticals and defence.
Speaking at the India–Israel Business Summit alongside Israel’s Minister of Economy and Industry, Nir Barkat, Goyal said India offers an investor-friendly and predictable business environment. He noted that promising avenues include FinTech, Agritech, artificial intelligence and quantum computing.
Emphasising the strength of India’s economic fundamentals, Goyal said, “Our growth is high, our inflation is low, our forex reserves stand at an all-time high of around 700 billion dollars, and our banking system has very low non-performing assets.” He added that India continues to invest heavily in infrastructure—over 130 billion dollars annually—to maintain long-term growth.
Goyal highlighted India’s unified electricity grid, which spans the entire nation, unlike regional grids in many countries. He also pointed to the uniformity of India’s taxation structure, with one Goods and Services Tax and a single direct tax system, calling it a stable and simplified framework compared to countries where tax rates vary between regions.
Detailing what he described as the “10 Ds” of India’s growth story—democracy, decisive leadership, demand, demographic dividend, diversity, digitalisation, decarbonisation, sustainability, determination and dependability—Goyal said the combined strength of these elements makes India one of the world’s most reliable investment destinations.
Israel’s Economy Minister Nir Barkat praised the partnership, calling it “extremely valuable” and encouraging Israeli entrepreneurs to look towards India for collaboration. He said India’s large scale, cost-effective capabilities and industrial strength complement Israel’s innovation-driven ecosystem, creating a “win-win” partnership.
Barkat added, “When we marry the innovation platform with India’s industrial power and scale, it leads to strong outcomes for both economies.”
Goyal is visiting Israel from November 20 to 22, accompanied by a 60-member business delegation organised by CII, FICCI, Assocham and Startup India. During the visit, he will meet senior Israeli leaders, including several ministers, apart from holding bilateral discussions with Barkat.
