Jaishankar invites Israeli companies to invest in India’s post-Covid surge

By Sarkaritel October 19, 2021 07:41

Jaishankar invites Israeli companies to invest in India’s post-Covid surge

New Delhi, Oct 19: Extenal Affairs Minister, S Jaishankar has invited Israeli companies to invest in India, taking advantage of the expected post-Covid boom in the economy, which is already showing poitive signs of revival.

“Many post-Covid priorities including digital, health, agriculture and green growth are natural areas for our collaboration,” said the minister after having elaborate discussions with the Israeli chambers of commerce and the innovation ecosystem.

Jaishankar lauded the “visible enthusiasm” for doing business with India, which he said had already unveiled a slew of new business-friendly measures.

Ambassador Yael Ravia-Zadok, the head of the Economic Diplomacy Division of Israel’s Ministry of Foreign Affairs, nailed innovation, water, health, energy among several other sectors as areas of collaboration.

Jaishankar’s visit takes forward the joint efforts made by New Delhi and Jerusalem since 2017 to engage the talent pool of the two countries in pursuit of path-breaking technological solutions that can be commercially exploited.

India has size and scale, Israel the sharpness and edge

It was during the historic visit of Prime Minister Narendra Modi to Israel in July 2017 that India and Israel had elevated the bilateral relations to a Strategic Partnership. Since then, the relationship between the two countries has focused on expanding knowledge-based partnership, which includes collaboration in innovation and research, including boosting the �Make in India’ initiative.

The ‘India-Israel Industrial R&D and Technological Innovation Fund (I4F)’ Memorandum of Understanding (MoU) envisages promotion of bilateral industrial R&D and innovation cooperation in the fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, services or processes.

In January 2018, while addressing the India-Israel Business Summit during Benjamin Netanyahu’s visit to India, Prime Minister Narendra Modi had said that both countries stand on the cusp of a bright new chapter as there is new energy and purpose that has invigorated the bilateral ties.

“India has size and scale, Israel has sharpness and edge. 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,” PM Modi had commented then.

Sharing cutting-edge technology in agriculture and defence

Recognising the centrality of agriculture and water sectors in the bilateral relationship, India and Israel had signed a three-year work programme agreement for development in agriculture cooperation, in May, earlier this year.

The Ministry of Agriculture and MASHAV – Israel’s Agency for International Development Cooperation – are leading Israel’s largest government-to-government cooperation, with 29 operational Centres of Excellence (COEs) across India in 12 states, implementing advanced-intensive agriculture farms with Israeli agro-technology tailored to local conditions.

“The three-year work program (2021-2023) reflects the strength of our growing partnership and will benefit local farmers both through the Centers of Excellence and the Villages of Excellence,” said Ron Malka, the Director General of Israel’s Ministry of Economy and Industry.

Meanwhile, giving a significant boost to India’s defence capabilities, the first deliverable Firing Unit (FU) of Medium Range Surface to Air Missile (MRSAM) System was included in the Indian Air Force (IAF), last month.

The MRSAM is an advanced network centric combat Air Defence System developed jointly by Defence Research and Development Organisation (DRDO) and Israel Aerospace Industries (IAI) in collaboration with the Indian industry comprising private and public sectors including MSMEs.

Defence Minister Rajnath Singh had described the system as a shining example of the close partnership between India and Israel, saying that handing over of the system to IAF has taken this decades-old friendship to greater heights.

The Long Range Surface to Air Missiles (LRSAM) system has also been developed by DRDO and IAI Israel to equip the latest ships of the Indian Navy.

Jaishankar to rope in more hi-tech industries

EAM Jaishankar’s meetings with the business community working on the Israel-India route are expected to significantly increase cooperation between the two countries.

With bilateral meetings with the Israeli Alternate Prime Minister and Foreign Minister Yair Lapid, President Isaac Herzog, Prime Minister Naftali Bennett,the Knesset Speaker and several other political and business leaders scheduled during the four-day trip, the special relationship between India and Israel is expected to witness a high level of cooperation in economic activity, trade and commerce.

“With Diwali just around the corner, the visit of MEA Dr S Jaishankar is an opportunity to highlight the elements of India-Israel growing partnership that bring light and hope of prosperity to both people and their respected regions: water, agriculture, healthtech and education,” tweeted Froim Ditza, the Head of Policy Planning at the Israeli MFA, after Jaishankar’s interaction with the business community in Jerusalem Sunday evening.

By Sarkaritel October 19, 2021 07:41