On January 29, 1992, India and Israel established formal diplomatic relations. Since then, the bilateral relations between India and Israel have undergone a radical transformation from a state of "non-relations" to a robust “strategic partnership”. Today, both countries cooperate extensively in various domains, ranging from defence and military-technical cooperation to counter-terrorism and intelligence cooperation, from cyber and space collaborations to agriculture & water cooperation. However, the dynamics of relations that appear so cordial today stand in complete contrast with its past, as both countries had no diplomatic relations for nearly 42 years since their mutual diplomatic recognition in 1950. In fact, the interactions between these two countries were episodic, hostile and unfriendly during the Cold War, to the extent that they cannot be called “relations”; rather “non-relations” was the distinctive feature of their interaction until 1992. This study will examine and analyse the reasons for such radical transformation in the bilateral relations between India and Israel by investigating the convergent and divergent foreign policy objectives and their respective strategic calculus towards each other in the prevailing geopolitical environment. This study will also investigate the role of sub-national and sub-state actors in shaping the relationship between the two countries. Apart from analysing the emerging systemic and regional trends that can limit or enhance the bilateral cooperation between these two countries, this study will also examine the prospects of the bilateral dynamics between India and Israel to evolve into multilateral or minilateral alignment. By combining the "Levels of Analysis" and "Neoclassical Realism" as the theoretical frameworks, this study will analyse the role of Systemic, Regional, Unit and Individual factors in driving this bilateral relationship in the post-Cold War era.