What roadmap India-Israel CEOs Forum has charted to enhance bilateral trade to $20 bn by 2022

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Published: January 15, 2018 10:55:48 PM

Leading business leaders from India and Israel on Monday submitted wide-ranging recommendations in the area of innovation across sectors to PM Narendra Modi and Israeli PM Benjamin Netanyahu to achieve US$ 20 billion bilateral trade turnover in the next five years from the present level of US$ 5 billion.

Federation of Indian Chambers of Commerce and IndustryThe 2nd meeting of India-Israel CEOs Forum presented a wide-ranging blueprint to PMs of India and Israel.

To further strengthen the India-Israel trade ties and boost business between the two nations, leading business leaders from India and Israel on Monday submitted wide-ranging recommendations in the area of innovation across sectors to PM Narendra Modi and Israeli PM Benjamin Netanyahu to achieve US$ 20 billion bilateral trade turnover in the next five years from the present level of US$ 5 billion. The goal was envisaged during the first meeting of CEOs Forum in July 2017. The recommendations were submitted to the two Prime Ministers at the second meeting of India-Israel CEOs Forum organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Manufacturers Association of Israel (MAI) on Friday, coinciding with the visit of Benjamin Netanyahu and a high-powered official and business delegation to India.

According to Pankaj Patel, Immediate Past President, FICCI & Indian Co-Chair of the Forum, “The Forum is of the considered view that biggest opportunity between India and Israel is in the creation of an innovation economy, with both our countries taking big strides in the innovation and start-ups space. It should be natural for the two countries to align policies to nurture and support the innovation eco-system to make success of the Innovation Bridge launched in July 2017 and $ 50 million National Technology and Endowment Fund announced.”

The working groups also made the following recommendations to strengthen Indo-Israeli engagement in diverse areas:-

  • Defence, aerospace and homeland security
  • Agriculture and water management
  • Urban infrastructure and transport
  • Digital technology – IT, cyber and data security
  • Start-up and innovation eco-system

The 2nd meeting of India-Israel CEOs Forum presented a wide-ranging blueprint to PMs of India and Israel.

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