New Delhi [India], June 15 (ANI): Israeli Ambassador to India Reuven Azar, on Monday, noted that European governments, driven by their own urgent security requirements, remain consistent purchasers of Israeli defence technology regardless of their diplomatic stance, despite vocal political criticism from several European nations regarding the ongoing conflict in West Asia
Speaking to ANI, Azar highlighted the flourishing defence exports to Europe, adding that 36% of Israel’s total defence exports, which amounted to USD 19 billion globally, are currently directed toward Europe.
“Our defence industry is flourishing. 36% of our defence exports are going to Europe. The same European countries are criticising us. They are buying from us because they are also in a very dear need. So we sold USD 19 billion of defence equipment to the world,” he said.
Ambassador Azar acknowledged that the current conflict has imposed a “dear price” on the Israeli economy, with costs estimated at approximately USD 200 billion. However, he emphasised that the nation’s economic foundation remains robust, bolstered.
“First of all, we’ve paid a very dear price. This war, according to estimates, has cost us something like USD 200 billion. This is not something cheap or that you can underestimate. But fortunately, we also have a lot of income that has to do, first of all, with our innovation. Israel is exporting innovation,” Azar said.
He pointed to strong performance in Israel’s technology sector, stating that 2025 was a record year for investments and business acquisitions. “Only last year, 2025, was a record year in which we had about USD 15 billion of investments in innovation, and we had exits of two major cyber companies that were bought for about USD 70 billion,” he said.
The envoy also underscored the role of energy exports in supporting the Israeli economy, noting that offshore natural gas discoveries have strengthened energy security and export capacity.
“We also have natural gas that we find offshore. We’ve been able to untap that. So our energy markets are pretty stable. When it comes to energy, we export energy to Egypt and Jordan,” he said.
At the same time, Azar acknowledged the economic and social challenges created by the prolonged conflict, particularly for small businesses and communities near Israel’s northern border.
“It’s tough because a lot of small businesses have been hit. The government is trying to compensate, but it’s very difficult. Our communities in the north are devastated as a result of this continuous war, and they are demanding that the government to solve the problem, to bring back stability. This is the challenge that we have,” he added. (ANI)
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