It is expected that several Memorandum of Understandings (MoUs) will be signed for cooperation in oil and gas, renewable energy, amended protocol for airports, cyber security, and co-production of films and documentaries between the two countries.
The Union Health Ministry will also sign an agreement with Israel's Saare Tzedek hospital on homoeopathy and Ayurveda. It must also calculate the indirect impact of unilateral moves in the Israel-Palestine conflict on its own dispute with Pakistan over divided Kashmir.
Netanyahu's maiden visit to New Delhi will mark the end of the celebration of 25th anniversary of the establishment of India-Israel diplomatic relations in 1992.
Ahead of the visit, Netanyahu had said, "Well I would have preferred a different vote to be frank, but I don't think it materially changes the tremendous flowering of relations between India and Israel".
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Modi tweeted in both English and Hebrew.
The build up to Netanyahu's visit was soured this month when India called off a deal to buy 8,000 anti-tank guided missiles from Israel's state-owned defence contractor Rafael. The name of square, which until now has been known as Teen Murti Chowk, will now be called Teen Murti Chowk Haifa.
The iconic war memorial at a roundabout near Teen Murti Bhavan in Delhi was on Sunday renamed Teen Murti-Haifa Chowk to pay homage to the Indian soldiers who fell in the battle of Haifa - now in Israel - during World War I.
Demands to rename Teen Murti road and chowk have been made over the past few years by various organisations, including the RSS.
The Israeli Premier, accompanied by his wife Sara and a 130-member delegation from various sectors, arrived here on Sunday.
Before embarking on the flight to India, Netanyahu said his trip was meant to strengthen bilateral relations "even more".
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Netanyahu also tweeted about this interaction, saying, "We are here in India on a historic visit".
"We are strengthening ties between Israel and this important global power. This is a great blessing for the state of Israel", Netanyahu said before his visit.
The idea of renaming Teen Murti road and chowk after Haifa was proposed in the New Delhi Municipal Council (NDMC) council during Prime Minister Narendra Modi's visit to Israel past year.
Just before leaving for India, Israeli PM expressed his keenness to strengthen bilateral relations with India.
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