The deals were announced after Israeli Prime Minister Benjamin Netanyahu held talks with his Indian counterpart Narendra Modi in Delhi on Monday.
Mr Modi said he wanted Israeli defence companies to invest in India.
Mr Netanyahu's visit comes a year after Mr Modi became the first Indian prime minister to visit Israel.
He arrived in Delhi on Sunday for a six-day visit along with a 130-member business delegation.
The two countries also signed deals where they agreed to cooperate in areas including cyber-defence, security and science.