Israel's Chief Economist Shmuel Abramzon has described the Adani Group's Haifa Port as one of the most significant foreign investments in recent years, welcoming India's growing role in Israel's infrastructure and industrial sectors.
Mr Abramzon underlined the opportunities available to Indian companies in Israel and noted the growing trade relationship between the two nations.
The acquisition of Haifa Port by the Adani Group, in partnership with Israel's Gadot Group, has been viewed by Jerusalem as a major development in strengthening economic ties. "Haifa port by Adanis is really the major investment in recent years," Mr Abramzon told news agency ANI. "I'm very, very happy about it and excited about that. The area of infrastructure has a lot of potential for Indian companies to come in. It means other kinds of infrastructure also -- we're talking about rails, we're talking about the metro system which is going to be built in Tel Aviv."
The $1.2 billion purchase, completed in 2023, handed the Indian conglomerate control of one of Israel's most strategically important Mediterranean ports. Haifa port serves as a crucial maritime hub, handling over 30 per cent of Israel's imports. It is owned by Adani Ports, which controls a 70 per cent share.
Israel's transport and urban development projects are set to expand rapidly over the coming decade, with the Tel Aviv Metro, desalination facilities and large-scale water management systems at the forefront. Abramzon pointed out that Indian firms have already expressed interest in desalination plants and could play a big role in the construction and operational stages.
The Chief Economist added that defence production offers another avenue for joint ventures. While Israel remains a hub for defence technology and innovation, its limited manufacturing capacity has often constrained scale. India, by contrast, possesses extensive industrial infrastructure and labour resources.
"Israel is a small country, it's not a manufacturing hub. India, with so many hands, is already becoming a manufacturing hub," he said. "This combination - Israeli know-how, technologies and innovation, together with India's production strength - is really a great match," he said.
Earlier this week in New Delhi, Israel's Finance Minister Bezalel Smotrich and Finance Minister Nirmala Sitharaman signed a Bilateral Investment Agreement (BIA), laying the foundation for stronger trade.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
