After the warm welcome by Prime Minister Narendra Modi to Israeli Prime Minister Benjamin Netanyahu, what is next in agenda for these men?
India and Israel are expected to sign over 10 business and industry-related memorandums of understanding on Monday across sectors, including energy, water, automation products and IT, in the presence of 130 business delegates accompanying PM Benjamin Netanyahu on his historic trip to India.
The MoUs will be signed on the sidelines of the Indo-Israel Business Innovation Forum and CEOs meet which will be addressed by Netanyahu in both Delhi and Mumbai). Among the key Indian enterprises that will conclude MoUs include Indian Oil Corporation; Department of Electronics and IT, Andhra Pradesh; and Reliance Industries.
“We are excited and highly optimistic about India-Israel Business Innovation Forum,” Barak Granot, head of the Israeli Economic & Trade Mission in Delhi, told ET. “With a leading economy, a striking concentration of innovative people and countless Israeli tech startup, Israel is the best place for Indian businesses to grow,” he said.
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Israel, Granot said, boasts one of the most highly educated, entrepreneurial and multicultural workforces in the world. “The richness of the tapestry of Israel’s different cultures results in a flexible work system, across sectors and locations,” he said.
Israel, Granot said, boasts one of the most highly educated, entrepreneurial and multicultural workforces in the world. “The richness of the tapestry of Israel’s different cultures results in a flexible work system, across sectors and locations,” he said.
The visiting delegation represents various industry sectors such as water, agriculture, food, cybersecurity, homeland security, defense, software and IT. Additionally, Israel Innovation Authority is leading a delegation of 20 Israeli startups, in collaboration with Invest India and Startup India.
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Senior government officials will accompany these business delegates from various ministries and other government entities from Israel such as Foreign Trade Administration and Invest in Israel from the Israeli ministry of economy and industry, Israel Innovation Authority, Israel Export Institute, foreign affairs ministry, Manufacturers Association of Israel, tourism ministry and ASHRA — The Israel Export Insurance Corporation. The economic delegation comprises 147 delegates in all.
In 2016, Indo-Israeli bilateral trade stood at $4.16 billion (excluding defense), with the balance of trade in Israel’s favor. Trade in diamonds constitutes more than 53% of bilateral trade. India is Israel’s third largest trade partner in Asia after China and Hong Kong.
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