God chose Israel for three purposes:
a) That Israel might be the repository of God's truth here on earth
b) That Israel might be the channel of the coming Savior to the world
c) That Israel might be a witness of God's character and supremacy in the eyes of the world
Israel has fulfilled the first two but has sadly failed in the third. Instead of bearing witness to God, she fell into idolatry, became like the nations around her and rejected her Messiah when He came.
Now, she is under the chastening hand of the Lord. But in the future, she will repent and turn to God in Christ and will bear witness to Him in the eyes of the world during the millennium. And the world will turn to the Savior through her witness.