Adani, TCS, Infosys, Reliance Jio named in report exposing Indian role in Israel's war economy
New Delhi: A new report released by the Centre for Financial Accountability (CFA) has raised serious questions about the role of Indian corporations and the Indian government in supporting Israel’s military and occupation economy. The study, titled Profit and Genocide: Indian Investments in Israel, claims that both state-owned and private companies in India are not just commercial partners but active participants in what the report describes as Israel’s “economy of occupation and genocide”.
The report argues that Indian capital, through multiple sectors such as defence, technology, agriculture, labour and infrastructure, is directly sustaining Israel’s military campaigns, settler-colonial practices, and systematic violence against Palestinians. It also points out that Israeli investments in India have continued to grow, reflecting what it calls a mutually reinforcing trade relationship that has persisted and even expanded during the peak of Israel’s assault on Gaza.
According to the findings, India has emerged as one of the biggest clients of Israeli defence exports, accounting for 40 to 45 per cent of Israel’s total arms exports between 2016 and 2021. Among the major corporations named in the report is Adani-Elbit Advanced Systems India Ltd, based in Hyderabad, which manufactures the Hermes 900 Medium Altitude Long Endurance drone. This drone has been deployed by the Israeli military in Gaza for surveillance operations and targeted strikes. The report also highlights Adani Ports’ acquisition of Israel’s Haifa Port for $1.18 billion, calling it a direct link between Indian capital and Israel’s naval and military logistics. Haifa, while being Israel’s busiest commercial port, also functions as a base for the Israeli Navy’s submarine fleet, which is critical to the country’s military strategy.
The report further accuses Indian technology giants of aiding Israeli digital infrastructure. Tata Consultancy Services (TCS), Infosys, and Reliance Jio were named for their roles in supporting technological projects in Israel. TCS has been linked to Project Nimbus, a controversial cloud computing initiative involving Amazon and Microsoft. Project Nimbus has faced widespread criticism for enabling mass surveillance, data control, and predictive policing targeted at Palestinians.
Agriculture, too, forms a part of this economic entanglement. Jain Irrigation’s subsidiary, NaanDanJain, supplies drip irrigation systems to Israeli settlements in the West Bank and the occupied Golan Heights, both of which are considered illegal under international law. The report also notes that in 2022, Jain Irrigation merged part of its global business with Rivulis, a company owned by FIMI (First Israel Mezzanine Investors Ltd.), which has links to Israel’s military and prison industries.
Another controversial collaboration is India’s partnership with Mekorot, Israel’s national water company. Mekorot has been accused of weaponising water in Gaza by deliberately reducing pipeline flows and depriving civilians of access to clean drinking water. Despite these allegations, Mekorot has been engaged in several Indian projects, including water management programmes in states such as Karnataka.
The report also points to the large-scale recruitment of Indian workers in Israel in 2023. With the suspension of Palestinian work permits, around 42,000 Indian construction and nursing workers were hired to fill the gap in Israel’s labour force. The CFA argues that this recruitment not only served Israel’s domestic economy but also undermined the Palestinian workforce, which was once central to Israel’s construction sector.
The release of this report comes shortly after the Government of India signed a Bilateral Investment Treaty (BIT) with Israel earlier this month. According to the CFA, this move sends a clear signal of India’s complicity in Israel’s military occupation, ethnic cleansing, and what the report repeatedly refers to as genocide in Gaza.
Author of the report, Hajira Puthige, underlined the urgency of recognising the role of Indian corporations in perpetuating violence. She said, “As the attacks on Palestinian territories by Israel escalated to genocide, near the two-year mark, it is imperative to address the role of silent enablers. The research into Indian investments in Israel revealed that despite growing war crimes and global condemnation of the genocide, bilateral trade and military cooperation between the countries have not only persisted but intensified amid mounting war crimes and international condemnation of the genocide. Indian corporations continue to make significant investments in the Israeli defence, pharmaceutical, and technology sectors, among others. Though such economic entanglements portray an image of business as usual, they indirectly sustain and legitimize violence against civilians, while reflecting a troubling complicity that undermines global calls for accountability and peace.”
The CFA has framed the issue as a moral contradiction for India, pointing out the paradox between India’s historic support for Palestine at international forums and the growing role of its corporations in financing and enabling Israel’s conflict economy. The report warns that unless Indian policymakers and companies reassess their partnerships, history will record India’s role as complicit in atrocities committed against Palestinians.
Echoing the urgency of the report, Joe Athialy, Executive Director of the Centre for Financial Accountability, drew attention to the human cost of Israel’s campaign in Gaza. He said, “Latest estimate of people killed in Gaza are over 65,000 of which over 20,000 are children. While they are victims of targeted killings (civilians made up 15 of every 16 people killed by Israel in Gaza since March), they are also victims of starvation and denial of water. Indian government and Indian corporations can no longer ignore the ongoing war against humanity and should stop any business or trade with Israel until the genocide is stopped.”
The CFA report paints a grim picture of how economic interests have overshadowed humanitarian considerations. By tracing financial and industrial links between Indian companies and Israel’s war economy, the findings call for a serious rethink in India’s foreign policy and corporate strategies. The report urges both the government and private sector to realign their priorities with principles of humanity, justice, and international law, warning that failure to do so risks cementing India’s place on the wrong side of history.
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National Herald case: Shivakumar to seek time next week to appear before Delhi police
New Delhi/Bengaluru (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Monday said he will ask for time from Delhi police to appear before them next week, to provide required information as part of the probe into the National Herald case.
He said he will seek time after the ongoing winter session of Karnataka legislature ends on December 19. He will also ask the Delhi police to provide him the FIR copy.
Shivakumar, who is in the national capital, had earlier said that he will appear before the Delhi police on Monday. But, he postponed the plan in order to rush back to Karnataka to participate in the last rites of veteran Congress leader Shamanuru Shivashankarappa, scheduled later in the day in Davangere.
"I had to go (to appear before the Delhi police), but I have to go back urgently. I'm asking them for time, stating that I will come next week," Shivakumar told reporters in New Delhi.
"They (Delhi police) have not attached the FIR copy while issuing notice to me. I need FIR copy, because we had already given all the required replies to the ED. I don't know what the FIR says, I only read in papers. They have given notice, I will ask for a FIR copy. I will come next week after the Assembly session."
The Delhi Police had issued a notice to Shivakumar, who is also the Karnataka Congress chief, seeking financial and transactional details as part of its probe into the National Herald case.
The notice issued by the Economic Offences Wing (EOW) states that Shivakumar is "supposed to be having vital information" pertaining to the National Herald case registered on October 3 this year, against top Congress leaders Sonia Gandhi and Rahul Gandhi.
In the notice dated November 29, the EOW had asked Shivakumar to appear before it or provide the requested information by December 19 latest.
Investigators have sought details about his personal background, his association with the Congress party, and a complete break up of funds allegedly transferred by him or associated entities to Young Indian.
To a question on meeting AICC General Secretaries K C Venugopal and Randeep Singh Surjewala, amid the ongoing power tussle between him and CM Siddaramaiah over the Chief Minister post, Shivakumar said when he comes to Delhi, he usually meets every one.
"Whether it is Surjewala or Kharge (AICC President Mallikarjun Kharge) or Venugopal, I will meet everyone. During lunch yesterday I met Rahul Gandhi and Sonia Gandhi. I have met everyone. What's wrong?" he asked.
Shivakumar was in Delhi to take part in Congress' "Vote Chori" rally on Sunday, and had also participated in the lunch organised by the party for its leaders.
Responding to a question, whether any meeting is planned with leaders today, the Deputy CM said, he and Kharge will be travelling together to Karnataka, to pay last respects to Shamanuru Shivashankarappa.
Asked if he will seek time for a separate meeting with Congress leadership including Rahul Gandhi, during the next visit to Delhi, Sivakumar said, "such things will be there between us in the party.... you don't worry."
