A new report by the Centre for Financial Accountability (CFA) has spotlighted the growing involvement of Indian corporations and state entities in bolstering Israel’s military and economic infrastructure, even as international concern escalates over alleged war crimes in Gaza.
The report, Profit and Genocide: Indian Investments in Israel, describes a convoluted network of joint ventures, technology partnerships, and investments between Indian companies and Israeli organizations that it alleges are supporting settlement activity that is illegal under international law and Israel’s military operations in Gaza.
Adani-Elbit Advanced Systems India Ltd., a joint venture based in Hyderabad that manufactures Hermes 900 drones, is one of the most well-known alliances. Israeli operations over Gaza have relied heavily on these unmanned aerial vehicles, especially for targeted strikes and surveillance. In 2022, Adani Ports, another significant Indian player, paid $1.18 billion to acquire Haifa Port. The port is not only Israel’s busiest commercial gateway but also a strategic naval base.
The CFA notes that these business arrangements have continued, and in some cases, expanded, despite growing global outcry over the humanitarian toll in Gaza, which has seen tens of thousands of civilian casualties, including over 20,000 children, according to recent estimates cited in the report.
Defence trade between the two countries has also seen a dramatic uptick. India accounted for roughly 40 to 45 percent of Israel’s arms exports between 2016 and 2021, positioning it among Israel’s top weapons buyers.
India’s major tech firms have also entered the picture. Tata Consultancy Services, Infosys, and Reliance Jio are all named in the report for their roles in Israel’s digital infrastructure projects. TCS, in particular, has been linked to Project Nimbus, a controversial cloud computing initiative also involving Amazon and Microsoft, which has been widely criticized for enabling mass surveillance and predictive policing of Palestinians.
“These aren’t neutral business deals,” said Hajira Puthige, lead author of the CFA report. “They are deeply embedded in systems that facilitate occupation, control, and displacement.”
The report draws particular attention to the role of Indian agribusinesses. Jain Irrigation’s Israeli subsidiary, NaanDanJain, supplies irrigation technology to settlements in the West Bank and Golan Heights, both considered occupied territories under international law. Jain’s 2022 merger with Rivulis, an Israeli firm linked to the defence and prison sectors, further deepens that connection.
Indian companies are not only contributing to physical infrastructure but also to demographic shifts, the report argues. After Israel suspended thousands of work permits for Palestinians, around 42,000 Indian construction and healthcare workers were recruited to fill the gap a move critics say entrenches the economic marginalization of Palestinians while tying Indian labor more tightly to the Israeli economy.
One of the more contentious partnerships involves Israel’s national water company, Mekorot, which has faced accusations from rights groups of cutting off water supplies in Gaza as a form of collective punishment. Mekorot has also worked on water projects in Indian states such as Karnataka, raising ethical questions about the transfer of such technology.
India’s recent signing of a Bilateral Investment Treaty with Israel even as the United Nations and international rights bodies accuse Tel Aviv of committing acts of genocide marks a turning point in the bilateral relationship. The report warns that these deepening economic and defence ties risk undermining India’s historical support for Palestinian self-determination.
“India was once a vocal proponent of decolonization and anti-apartheid movements,” said CFA Executive Director Joe Athialy. “Today, that moral leadership is being eroded by corporate interests and strategic alliances that ignore human rights.”
The CFA is urging Indian policymakers and businesses to reconsider their engagement with Israel, citing not only legal obligations under the Genocide Convention but also India’s own constitutional and ethical commitments.
“India has long championed the rights of oppressed peoples,” the report states. “To retain credibility on the global stage, especially in the Global South, it must now decide whether it stands with justice or with impunity.”
