For more than two decades, Benjamin Grossman has been at the forefront of one of Asia's most consequential economic relationships, that between India and Israel. Grossman has advised governments, multinational corporations, technology companies and investors on cross-border transactions, joint ventures, technology transfer, defence collaborations and market entry strategies.
He has also held leadership positions in organisations dedicated to strengthening bilateral ties, including serving as Vice Chairman of the Israel-India Chamber of Commerce. With deep expertise in Indian business practices, intellectual property, mergers and acquisitions, and strategic partnerships, Grossman has played a pivotal role in shaping commercial engagement between the two countries.
In this exclusive conversation with BW Businessworld, he shares why the next decade of India-Israel cooperation will be defined by AI, semiconductors and quantum computing, and explains what businesses on both sides must do to unlock the partnership's full potential.
Q. India and Israel have never been closer strategically. Where do you see the biggest untapped business opportunities between the two countries over the next decade?
India and Israel have built a strategic partnership founded on shared democratic values, common geopolitical interests and strong cooperation in defence. Naturally, this collaboration has expanded into sectors such as agriculture, water management and automotive technologies.
I believe the next phase of the relationship will be driven by areas where Israeli innovation complements India's scale and market potential while supporting India's aspiration of becoming a fully developed economy by 2047. Artificial Intelligence, quantum computing and semiconductors stand out as the most promising sectors for future collaboration.
Q. Having advised companies on both sides for over two decades, what are the biggest mistakes Indian businesses make when entering the Israeli market?
Israel may account for less than one per cent of the world's population, but its technology ecosystem is extraordinarily diverse. One mistake I often see is that Indian companies approach Israel with a broad or undefined objective. Without clearly identifying the technology or capability they are seeking, discussions can become unfocused and progress slows.
Companies should undertake thorough research before approaching the Israeli market and define precisely what they want to achieve.
For Indian businesses looking to sell in Israel, punctuality, consistency in quality and delivery are critical. While competitive pricing matters, reliability and execution are often valued even more. Businesses should also seek professional advice on taxation, intellectual property, dispute resolution and contract law, as the legal frameworks in both countries differ significantly.
Q. How do you assess the current state of India-Israel economic relations, and what more needs to be done to unlock their full potential?
Having worked on India-Israel economic relations for nearly 25 years, I have witnessed continuous progress. The relationship has become deeper, broader and increasingly beneficial for businesses in both countries.
A major milestone was the signing of the economic protocol by Commerce Ministers Piyush Goyal and Nir Barkat towards the end of 2025. The next logical step is a meaningful Free Trade Agreement, which would significantly strengthen bilateral trade and investment.
Equally important is enhancing collaboration between the Israel-India Chamber of Commerce and its counterparts in India, while encouraging greater business delegations and regular exchanges between entrepreneurs from both countries.
Q. Which sectors will define the next phase of India-Israel collaboration?
Artificial Intelligence will certainly remain a key area, but I believe semiconductors and quantum computing offer particularly exciting opportunities.
These sectors combine Israeli strengths in research and innovation with India's rapidly growing manufacturing ecosystem, engineering talent and large domestic market, creating enormous potential for long-term collaboration.
Q. With global supply chains being reshaped by geopolitics, how are Indian and Israeli companies rethinking partnerships?
The India-Middle East-Europe Economic Corridor (IMEC) has the potential to become a genuine game changer.
Both India and Israel are expected to play significant roles in this initiative, and I believe the strong bilateral relationship between the two countries will help accelerate its successful implementation and create new opportunities for trade, investment and logistics.
Q. Technology transfer has become central to bilateral cooperation. How can both countries accelerate innovation while protecting intellectual property?
Technology transfer has been at the heart of my work since 2001, and I believe it is fundamental to unlocking the full economic potential of India-Israel cooperation.
Protecting intellectual property, however, remains a key challenge. One effective approach is for Israeli technology companies to establish local subsidiaries in India that own, maintain and continue developing their intellectual property within the country. Such a structure can facilitate collaboration while providing greater confidence around IP protection.
Q. Many partnerships fail because of cultural differences rather than legal issues. What lessons have you learned from helping companies navigate both markets?
Cross-cultural business should begin with curiosity and mutual respect rather than suspicion.
Israeli business culture is generally direct and candid, while Indian professionals tend to communicate more diplomatically and indirectly. Neither approach is better; they are simply different.
One practical way to bridge these differences is by documenting meetings carefully through Records of Discussion and Minutes of Understanding. These documents should be treated seriously and drafted with precision.
I also recommend involving legal teams much earlier in negotiations than companies typically do. Early legal participation often resolves misunderstandings before they become larger commercial issues later.
Q. Israeli startups are renowned for innovation, while India offers unmatched scale. How can businesses from both countries better leverage these complementary strengths?
The combination of Israeli innovation and India's market scale creates enormous commercial potential.
One challenge is that many Israeli startups operate with limited capital, management bandwidth and time, making it difficult to independently enter a market as large as India.
A practical solution is partnering with an established Indian company through a joint venture or another collaborative business model. Such partnerships allow each side to contribute its strengths while reducing market-entry risks.
Q. As Vice Chairman of the Israel-India Chamber of Commerce, what trends are you seeing in bilateral investments and commercial partnerships?
The diversity of Israeli companies exploring India has increased significantly over the past few years. Earlier, interest largely came from larger companies. Today, many small and mid-sized technology firms view India as an essential part of their global expansion strategy.
At the same time, Indian investment into Israeli companies and technologies has also grown. We are seeing more joint ventures, commercial alliances, reseller partnerships and technology integration arrangements than ever before, reflecting the growing maturity of the relationship.
Q. If you were advising an Indian CEO entering Israel for the first time today, what would be your top three recommendations?
First, invest the time to understand precisely what technologies or capabilities Israel can offer your business.
Second, define your objectives with complete clarity before engaging potential partners. Focus is essential.
Third, approach the relationship with an open mind. Israeli business culture is highly direct, people generally say exactly what they mean. Clear communication, realistic expectations and a long-term perspective are essential for building successful partnerships.
( Grossman can be reached at benjamin@amlotan.com ) |
