Indian corporate links to Israel under scrutiny amid Gaza war: Report
The findings come from an interview with Hajira Puthige, who prepared a report for the Centre for Financial Accountability in New Delhi
Indian corporations' links to Israel's military, financial and technology sectors are facing growing scrutiny, following a report and interview that raise concerns about possible complicity in Israel's actions in Gaza.
The findings come from an interview with Hajira Puthige, who prepared a report for the Centre for Financial Accountability in New Delhi. The discussion examines whether Indian companies are connected to what international observers describe as a genocide in Gaza and to military actions involving Iran, says The Wire.
Puthige said the relationship between India and Israel extends beyond diplomacy and is embedded in systems that support Israel's military and economic operations.
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Military and technology links
The report points to direct and indirect ties between Indian firms and Israel's military activities.
Reports indicate that Indian-produced weaponry and surveillance systems are being used by the Israeli Defence Forces (IDF) in Gaza. In one case, a shipment of 27 tonnes of munitions from Chennai bound for Israel was intercepted in May 2024.
Indian companies are also involved in technology projects linked to Israel. Tech Mahindra has worked with an Israeli firm on artificial intelligence and predictive analytics. The report also mentions Project Nimbus, a cloud and AI project criticised for its potential use in surveillance of Palestinians.
Academic partnerships are another area of concern. Indian institutions such as IIT Delhi, IIT Bombay and Jawaharlal Nehru University have links with Israeli universities, including Technion. The report says Technion has been involved in research supporting military systems such as D9 bulldozers used in demolition operations.
Financial and corporate ties
The report describes financial services as a "crucial layer" supporting Indian business activity in Israel.
The State Bank of India has operated a branch in Tel Aviv since 2007, providing trade finance and credit facilities for Indian companies. In 2025, Jio Financial Services, part of Reliance Group, entered a joint venture with Allianz, which has been linked to investments in Israel's settlement economy.
The report also highlights investments by Indian firms in Israeli research. Tata Industries invested $5 million in a technology fund at Tel Aviv University, which the report says supports research connected to military technologies.
Agriculture and resources
India's involvement in Israel's agriculture and water sectors is also noted.
Jain Irrigation, now part of NaanDan Jain, provides services to settlements in the West Bank and Golan Heights. Through a merger with Rivulis, it is linked to FIMI, an investment group involved in military and prison equipment.
The Israeli national water company Mekorot, which has contracts in parts of India, is accused in the report of the "deliberate weaponisation of water" by restricting supply to Gaza during the conflict.
Labour and economic impact
The report says that after Israel revoked permits for Palestinian workers, Indian workers were recruited to fill labour shortages. It suggests this may contribute to the economic displacement of Palestinians while supporting Israel's domestic economy during the war.
Legal questions
The interview also raises questions about corporate accountability under international law.
It refers to historical examples such as the I.G. Farben trial after World War Two and the South African Truth and Reconciliation Commission, which examined corporate roles in human rights violations.
Under the Fourth Geneva Convention, activities that support illegal settlements or enable war crimes can lead to legal consequences. The report says companies involved in supplying goods, services or financial support linked to such activities could face scrutiny.
It adds that corporations may be held responsible if their actions "materially enable" violations, including through technology, finance or infrastructure.
The report notes a growing trend of legal challenges against companies over their overseas activities. It says scrutiny of Indian firms operating in or linked to Israel is likely to increase as international attention on the Gaza conflict continues.
