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    Home » Adani’s Rs 10,000 Crore Investment in Haifa: An India-Israel Historical Bond
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    Adani’s Rs 10,000 Crore Investment in Haifa: An India-Israel Historical Bond

    Naresh SainiBy Naresh SainiSeptember 29, 2024No Comments4 Mins Read
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    Adani’s Rs 10,000 Crore Investment in Haifa: An India-Israel Historical Bond
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    The tensions in the Israel-Hezbollah conflict have put industrialist Gautam Adani’s Rs. 10,000 crore investment in Haifa, Israel, in a vulnerable position. As one of Israel’s most significant port cities, Haifa holds a critical place in global trade, particularly between Europe and Asia. But for India, Haifa is more than just a trade hub. The city shares a rich history with India, which goes back to World War I, when Indian soldiers fought to liberate it.

    Haifa: A Key City with Indian Ties

    Haifa is Israel’s third-largest city and one of the country’s major ports, handling large volumes of trade between Europe and Asia. The Adani Group, under its ports division, has a substantial stake in the development of Haifa’s port, a Rs. 10,000 crore ($1.2 billion) project. This city, however, has a special connection with India, particularly with princely states like Jodhpur, Patiala, and Hyderabad.

    During World War I, Indian soldiers played a key role in freeing Haifa from Ottoman control. On September 23, 1918, the brave troops from India helped bring an end to the Ottoman Empire’s reign over Haifa. This day is remembered every year as Haifa Day in India to honor the contribution of Indian soldiers in this significant battle.

    The Historical Battle of Haifa

    In 1918, during World War I, Haifa was liberated by Indian cavalry brigades. Indian soldiers, particularly from Jodhpur, Patiala, Hyderabad, Mysore, and Kashmir, were sent to fight under British command as part of the 15th (Imperial Service) Cavalry Brigade. These soldiers fought bravely in the Battle of Haifa, and many sacrificed their lives in this historic event.

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    The battle was a turning point in the war, and the soldiers from India were instrumental in ending Ottoman control over the city. Today, 84 Indian soldiers who died in the battle are honored with war memorials. Teen Murti Chowk in New Delhi, originally named after the three states whose soldiers participated in the battle, was renamed Teen Murti Haifa Chowk in 2018 to recognize their contribution.

    Haifa’s Connection with Indian Cities

    Soldiers from various parts of India, such as Jodhpur, Patiala, and Hyderabad, were crucial in liberating Haifa. The 15th Cavalry Brigade, which comprised these soldiers, became a part of British forces and went on to fight in various battles during World War I. Even today, Haifa Day is celebrated to honor the soldiers’ contribution.

    In Delhi, near Teen Murti Bhavan, the Teen Murti War Memorial stands to commemorate the brave soldiers from Jodhpur, Hyderabad, and Mysore who fought for Haifa’s freedom. The statues of the soldiers symbolize the bond between India and Israel, a connection that remains strong today.

    Adani’s Rs. 10,000 Crore Stake in Haifa

    In recent years, Haifa has once again become a focal point for India, but this time through modern trade. Adani Ports and Special Economic Zone (APSEZ) has taken on the project of developing Haifa’s port, one of the most crucial ports in Israel for trade between Europe and Asia.

    Adani’s Rs. 10,000 crore investment (around $1.2 billion) in Haifa is part of a joint venture with Gadot Group, an Israeli company. Adani holds a 70% stake, while Gadot Group holds 30%. The Haifa port is set to become a vital trade link as part of the proposed India-Middle East-Europe Economic Corridor (IMEC), which will connect Mumbai to Europe via Haifa. This corridor was discussed at the G20 Summit held in India last year as a key alternative to the Suez Canal route.

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    Haifa’s Future Amidst Conflict

    However, the ongoing conflict between Israel and Hezbollah has placed Adani’s investment in Haifa at risk. The war threatens to slow down the development of the Haifa port, delaying the ambitious India-Middle East-Europe Economic Corridor. Despite the challenges, the historical connection between India and Haifa, along with Adani’s commitment, continues to symbolize the strong ties between the two nations.

    While the port development is critical for trade, the deep historical ties between India and Haifa give this investment even more significance. The sacrifices made by Indian soldiers over a century ago laid the foundation for the strong relationship that exists between the two nations today, one that is further strengthened by modern trade and economic collaborations.

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    Naresh Saini
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    Naresh Saini, a graduate with over 10 years of experience in the insurance and investment sectors, specializes in covering topics related to insurance, investments, and government schemes. His expertise and passion for the financial industry allow him to provide valuable insights, helping readers make informed decisions. Naresh is committed to delivering clear and engaging content in these fields.

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