Indias Incorporated loves the state of Israel In pure business bilateral trade between the two nations stands at a mere 5 billion dollars This comprised $3.08 billion of exports and $1.96 billion of imports. Of this, raw non-industrial diamonds figure significantly on both sides of trade, contributing more than $1 billion to both imports and exports.
Diamonds are used extensively in money-laundering and round tripping Diamonds provide the lifeblood of business cash flows
‘Round tripping’ in diamonds is wherein traders undertake a series of exports and imports of the same goods for the purpose of receiving greater bank financing. Hypothetically, if a parcel made four round trips it means that for every $1 million worth of polished goods, the exporter got $4 million in financing.
For more than a decade now, the Directorate of Revenue Intelligence (DRI) has been investigating how a clutch of companies in the Adani Group led by Gautam Adani allegedly evaded taxes and laundered money while trading in cut and polished diamonds and gold jewellery. The DRI, which is an investigative wing of the Department of Revenue in the Ministry of Finance, has issued a number of show-cause notices to firms in the group alleging evasion of taxes to the tune of roughly ₹1,000 crore. Adani is considered to be close to Prime Minister Narendra Modi. Source Economic and political weekly
Do Indians(mainly Gujarati Marwari and Jain Banias) and Israelis (and Brussels based Indians and Jews) use the diamond trade to launder money and round trip?
Do Indian corporates indulge in round tripping and money laundering ?
Yes they do Case in point Nirav Modi
Of late there has been an increase in business tie ups between Indian and Israeli companies
Anil Ambani-led Reliance Defense Ltd, and Rafael Advanced Defence Systems Ltd of Israel have decided to set up a joint venture company in India in the highly specialized areas of air-to-air missiles, air defense systems and large aerostats, that will oversee projects worth USD 10 billion(over Rs 65,000 crore) in ten years. Rafael has products like Python and Derby in the air-to-air missiles system, Spyder range in air defence systems and the Barak missiles family of surface-to-air missiles in the short and medium range. Rafael has already provided large aerostat systems to the Indian Air Force The Hindu
Rafael ‘s deals with India for sale of Spyder and Barak missises had been investigated in India for allegations of bribery and not meeting required specifications Derby For Tejas A Kosher Deal?
Reliance Defence and Engineering Ltd of the Anil Ambani Group is planning to manufacture Kalashnikov weapons for Indian armed forces in a joint venture with an Israeli company .The Israeli arms maker, Kalashnikov Israel Company, has agreed to jointly make Kalashnikov and other small arms with Reliance Defence, according to industry sources. BusinessLine
Mukesh Ambanis Reliance Industries is investing $25 million in the Jerusalem Innovation Incubator. Reliance will hold a 20% stake Motorola Solutions has a 20% stake, and Jerusalem based crowdsourcing fund OurCrowd has a 60% stake while Hebrew University of Jerusalem technology transfer company Yissum will provide promising technology and support. Economic times OurCrowd founder Michael Medved is the on the board of Directors of the Jewish Agency The Jewish Agency’s stated objective is to ensure that every Jewish person feels an unbreakable bond to one another and to Israel
Mahindra Defence – part of the Mahindra Group – on Wednesday said it has signed up a Memorandum of Understanding (MoU) with Israeli company Aeronautics for naval shipborne unmanned aerial vehicles(UAVs). Source
Tech Mahindra said it has partnered with Israeli firm ContextSpace Solutions to develop the world’s first global software privacy ecosystem, MyData Shield.Source
The Tatas who are Parsis began their business career nearly 150 years ago as the transport agents of the Opium dealing Jewish Sassoon family
The Tata group as a whole has quite a few Joint ventures and projects in Israel
In 2017 Israeli media reported that Ratan Tata was questioned in connection with a scandal involving Netanyahu Hollywood producer and self confessed Mossad asset Arnon Milchan He testified to the police for two hours regarding suspicions that he was involved in a case in which the prime minister is alleged to have received gifts valued at hundreds of thousands of shekels.
Ratan Tata said to have sought Arnon Milchan’s assistance in convincing Netanyahu to promote Israel-Jordan free trade zone where the Tata group would make cheap cars using cheaper desperate for work Arab Source NDTV
The Tata group has multiple joint ventures and ties with Israel It set up a Technology incubator with other big groups like General Electric Ventures, Microsoft Ventures, Qualcomm Ventures, HNA EcoTech, Pitango Venture Capital and RAMOT, called i3 Equity Partners (i3) will support promising early-stage Israeli ventures See Tata group teams up with global leaders to start technology incubator
TATA Enters Partnership with Israeli Water Generation Company According to MOU signed between TATA and the Israeli partner Watergen will promote production on the soil of India of machines that produce water from air. It turns out that Watergen is owned by the Mirilashvili family Mirilashvili serves as president ofthe World Jewish Congress- See Watergens’s kosher water from air
Tatas have ties with Israeli arms industry too
In 2009 Israel Aerospace Industries IAI and TATA signed an MOU to form a a Joint Venture Company to Develop, Manufacture and Support Defense Products The new JV Company will also perform offset work for IAI and other defense and aerospace programs in India.
HELA Systems Private Limited., a joint venture company of TATA Advanced Systems, India and ELTA Systems Ltd. Israel . The joint venture will be involved in Radar, Communications, Electronic Warfare, Homeland and surveillance systems.
Tata Power Strategic Engineering Division has a Transfer of Technology from DSIT Israel, to manufacture Portable Diver Detection Sonars at their facility at Bengaluru Products manufactured by DSIT partly owned by the Israeli were used against civilians trying to break the Israeli blockade of Gaza
In 2010 Naveen Jindal son of the founder of the Jindal group and a Congress party MP lead a Parliamentary delegation to Israel
The O. P. Jindal Global University has eight “Schools” One of the schools is Jindal School of International Affairs which in its won words is a ” a world class international affairs social science base that will generate and test theories and peddle a special Indian variant or brand of global studies”.
In that International school is a Jindal Center for Israel studies formed in 2012 through the initiatives of Dr. Rohee Dasgupta has been engaging MA students in the study of modern Israel and organizing academic conferences. It has fostered institutional networks and exchange on Israel Studies with the Schusterman Center for Israel Studies, Brandeis University, USA and Tel Aviv University, Israel.
Jindal Center is a tool for recruiting compliant academic sheep who will bleet out the standard philo semitic “academic drivel” that so many western universities dish out
In 2004 Bharti Enterprises set up a 50:50 joint venture with the Rothschild’s, called FieldFresh Foods, to export fresh fruit and vegetable to the European Union. The investment involved: Rs 250 crore.
Mittal then teamed up with the Rothschilds to launch the Manmohan Singh Undergraduate Scholarship from Cambridge University The Manmohan Singh Undergraduate Scholarship Fund was launched with gifts from Sir Evelyn and Lady Lynn Forester de Rothschild through the Eranda Foundation, and from the Mr Sunil Bharti Mittal-led company, Bharti Airtel (through the Bharti Foundation). Source University of Cambridge
The tower business in Agrica was bought out by Helios Towers Africa a company owned by Helios Investments, a Rothschilds Madeline Albright controlled group Madeline Albright was born Jewish and her original name is Jana Korbel
Godrej Agrovet acquires majority stake in Israeli bio-tech firm Maxximilk Originally established in central Israel in 2008, Maxximilk shifted gears and opened a production facility in Maharashtra last August, after signing a partnership agreement with Godrej Agrovet Ltd.
In 2010 Sun Pharma purchased 69 percent of an Israeli pharma company Taro pharma for 280 million dollars