Announcing the three-day visit, the external affairs ministry said it will provide an impetus for deeper bilateral engagement in areas of mutual interest.
Interacting with a select group of journalists here, Israeli Ambassador Daniel Carmon said Modi's visit is of "unprecedented importance with bilateral ties going through changing paradigm and changed architecture where there is no zero sum game and commitments and good relations with both sides can be maintained without contradiction", in reference to India's ties with Israel and the Arab countries.
The Israeli prime minister will also host a dinner for Modi on July 4, the envoy said.
Netanyahu will accompany Modi to most of the events, including the community reception on July 5 after their official discussions during which the two leaders are expected to explore ways to enhance cooperation in key strategic areas. The two sides are also expected to sign number of agreements in the field of innovation, development, science and technology and space.
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Modi, whose visit is aimed at commemorating 25 years of establishment of diplomatic ties between the two countries, will also pay homage to Indian soldiers at the Indian Cemetery in Haifa.
The Israeli embassy in a statement said the visit will also include high-level bilateral meetings and other various components which reflect the fabric of the Indo-Israeli relations.
"This significant visit, the first of an Indian prime minister to Israel, takes place on the backdrop of marking 25 years of diplomatic relations between India and Israel, and will further upgrade the ever growing partnership between the two countries," the embassy said.