Malka, a senior lecturer at the College of Law and Business and Dean of the graduate programme in financial markets and banking, completed his doctorate from Israel's Bar-IIan University. He has also served as a director and acting chairman of the Tel-Aviv Stock Exchange.
Netanyahu, who according to sources is entitled to make 11 political appointments as envoys to Israeli missions, has chosen to send his own nominee instead of a career diplomat to India amid burgeoning bilateral ties.
The agreement to the appointment is awaited from New Delhi.
Malka has also served as a Colonel at the unit of the financial adviser to the Chief of the Israel Defence Forces General Staff.
He currently serves as the chairman of the investment committees of three investment funds as well as economic and financial adviser to various bodies in the country, including the Office of the Prime Minister.
He would be replacing Ambassador Daniel Carmon who completed his tenure in August.