Several others including street-side snacks vendors say, "Shalom Netanyahu".or "Have a great trip".
Modi - who will accompany Netanyahu for large parts of his five-day tour - embraced the Israeli prime minister on the tarmac before the pair set off to pay homage at a war memorial in the Indian capital.
In 2003, Israeli Prime Minister Ariel Sharon visited India during the government of the right-wing Bharatiya Janata Party (BJP), which has been vocal about establishing a closer ties with Israel.
"A special welcome for a special visit.PM @narendramodi personally receives @IsraeliPM @netanyahu at Delhi airport", tweeted Prime Minister's Office.
"This evening I am leaving on an historic visit to India. This visit is an opportunity to enhance cooperation with a global economic, security, technology and tourism power", he added.
French President Emmanuel Macron on Saturday called for the "necessary respect" of Iran's nuclear deal with world powers, after Israeli Prime Minister Benjamin Netanyahu urged the French leader to change the landmark accord.
In contrast with prime ministerial visits to the United States or Europe, Netanyahu's trip, which will take him to three cities in India, will focus very little on Middle Eastern affairs such as the Israeli-Palestinian conflict.
Israel will be investing Dollars 68.6 million to boost cooperation with India in areas like tourism, technology, agriculture and innovation over a period of four years, a senior official here said ahead of Netanyahu's visit.
The visit marks 25 years since the establishment of diplomatic relations between the two countries.
Later in the day, Israeli PM would formally be welcomed at the Rashtrapati Bhawan following which he would lay a wreath at Rajghat.
He would then participate in a dialogue at Hyderabad House which will also include a one-on-one discussion with Modi.
In Gujarat, the Indian and Israeli Prime Ministers will visit the Center of Excellence in Vadrad and inaugurate a Center of Excellence for date palms in Bhuj via video conference. Touching upon the trade and business aspects of Netanyahu's visit, Carmon said a 130-strong delegation of businessmen involved in technologies related to agriculture, water, cyber, defence industries, food processing, will accompany the Israeli leader.