Business Summit: PM Modi seeks to tighten and expand economic cooperation to push India Israel relations higher

New Delhi, January 16: Expressing high hopes for India Israel bilateral ties Prime Minister Narendra Modi along with Prime Minister Benjamin Netanyahu had a business delegation talks having CEOs of both the countries. Recalling his July visit, PM Modi said that “he experienced at the remarkable spirit of innovation, enterprise and perseverance that drives Israel. There are new energy and purpose that has invigorated our ties over the last few years. It will help take our cooperation to greater heights.” 

We stand on the cusp of a bright new chapter in India-Israel relations driven by our people and the mutual opportunities for the betterment of their lives, PM Modi said while addressing the business summit with Israel PM Netanyahu.

 

Expressing the warmth India-Israel relations share, PM Modi said “the role of business and industry is crucial in the transformation of our ties. It is your combined efforts that will add real value to our interaction and produce concrete successes. Given the scale of the Indian economy and the relevance of cutting-edge Israeli technologies for us, even sky is not the limit for what we may achieve together!”

 

Further PM Modi said that “we have launched the maiden call for joint R&D projects under the ‘India-Israel Industrial R&D and Technological Innovation Fund (i4F)’ which was announced during my July visit. This fund is a welcome opportunity to combine the talent pool of the two countries in pursuit of path-breaking technological solutions that can be commercially exploited.”

 

Expressing hope for new technological development, further PM Modi added that “India-Israel Innovation and Technology Conclave is going to be held in India in July 2018. In fact, the ground-work for this will be started from iCREATE. We are both going to Gujarat to inaugurate this campus, which is being developed as a leading innovation hub.”

Lauding its commercial pace, PM Modi said that “Israel is universally known as the Start-up nation with a unique eco-system for innovation and incubation. Hailing out the Israeli entrepreneurs, PM added that “You have made Israel a strong, stable and innovative economy. You have made a country of 8 million people shine as a global powerhouse of technology.”

Whether it is Water Tech; or Agri-Tech; whether it is food production, its processing or conservation; Israel has been a shining example with new breakthrough and advances. Whether it is physical or virtual security; whether it is on land, water or space; your technology has won admiration. In fact, hailing from a water deficient state in India, I have particularly admired Israel’s water efficiency, PM Modi added.

Informing about India’s mission, PM Modi said that “we have been taking steady steps over three years at both macro as well as micro-level, to make a difference. Our motto is: Reform, Perform and Transform.”

In spite of deep structural reforms, we are among the fastest growing major economies. This is our greatest opportunity as well as challenge. For this purpose, we have started the Start-up India campaign. There is vast potential for India-Israel partnership in this area. The India-Israel Innovation Bridge will act as a link between the Start-ups of the two sides. I have been saying that Indian Industries, start-ups and the academic institutions must collaborate with their Israeli counterparts to access the huge reservoir of knowledge, PM Modi added.

 

Today, we have emerged as one of the largest manufacturing nations. But we are not done yet. We are positioning India as a global manufacturing hub leveraging the energy of our youth, PM Modi added. Further he said that the ‘Make in India’ initiative is designed to help achieve this. Through these initiatives, combined with the new eco-system of a formal economy and a unified tax regime, we are trying to create a NEW INDIA.

Several Israeli companies have joined hands with Indian companies for Making in India. Many others, especially those with advanced water technologies and agri techniques, defence and security systems, and pharma knowledge have a foot-hold in India. Similarly, Indian companies have significant presence in several sectors in Israel like IT, Irrigation and Pharma.

Concluding the business summit, PM Modi invited Israeli counterparts saying that “I invite more and more Israeli people, businesses and companies to come and work in India.”