If we look at the latest figures of Israeli exports, the export of diamonds is 9.06 billion dollars, the export of integrated circuits is 5.09 billion dollars, the export of refined petroleum is 2.73 billion dollars, the export of medical equipment is 2.36 billion dollars and the export of other measuring instruments is 2.32 billion dollars. Is included.
The war between Israel and Hamas (Israel-Hamas War) has now increased even more. Now others including Hezbollah have also entered this war and Israel is attacking not only Hamas in the Gaza Strip but also the bases of Hezbollah in Lebanon. Despite being a very small country in terms of area, it is important for Israel’s strength to improve its economy and economic condition.
It has trade relations with all the big countries of the world including India. However, the strength that exports provide to the economy (Israel Export) plays a big role. In this, diamonds are exported in large quantities, in other words Israel is sitting on the diamond business (Diamond Business of Israel) and earns huge amount from its export to many countries.
Among the largest exporters of polished diamonds
According to a report, diamonds are an important export product for Israel, which accounts for about 25 percent of the country’s total exports. Israel is one of the world’s largest exporters of polished diamonds and is also a major center for the trade of rough diamonds.
About one-third of global rough diamond production is imported each year to the Israel Diamond Exchange, from where it is polished and exported globally. This business is so big in the country that in the year 2020, Israel exported diamonds worth $7.5 billion and emerged as the sixth largest diamond exporter in the world.
Industrial growth also increased along with population.
Over the past 40 years, local demand has driven rocket growth in the Israeli business industry. Israel has succeeded in increasing the level of trade in every sector at the same speed with which the country’s population has increased and the standard of living has improved.
Global demand for Israeli advanced technology, software, electronics and other sophisticated equipment has fueled industrial growth. Apart from this, the policies made by the government of the country are also playing a big role in industrial development. Actually, the government is helping industrial growth by giving loans at lower rates than its development budget.
Share of diamonds in export figures
If we look at the latest figures of Israeli exports, the export of diamonds is 9.06 billion dollars, the export of integrated circuits is 5.09 billion dollars, the export of refined petroleum is 2.73 billion dollars, the export of medical equipment is 2.36 billion dollars and the export of other measuring instruments is 2.32 billion dollars. Is included.
Meanwhile, apart from diamonds, the major exports from Israel to India are pearls and precious stones, chemical and mineral/fertilizer products, machinery and electrical equipment, petroleum oil, defence, machinery and transport equipment.
Polished diamonds come to India from Israel
India imports most of the rough diamonds from Israel, which remains one of the world’s major centers for polished diamonds. This means that the raw material for the cutting and polishing industry in India is obtained from Israel only and the country is a major business partner of Israel in this matter.
Close to 90 percent of Israel’s natural diamonds are used in cutting and polishing. Global market share. Apart from this, Israel is a large producer and one of the major exporters of fresh citrus fruits. These fruits exported from there include oranges, grapes, tangerines, grapes and pomelo.
Steps should be taken towards research and growth
The reason behind Israel being such a rich and healthy country is trade. According to the report, Israel makes huge investments in the direction of research and growth and that is why today it is considered a major power in the export of high-tech products in categories like aerospace, state-of-the-art defense equipment, scientific instruments. If we look at Israel’s export data in this sector, today their exports are about 17 billion dollars, which is about 1/3 of the country’s total exports.
