Narendra Modi in Israel: This is one of the biggest news in the history of India’s foreign policy since independence. It took 70 years for an Indian Prime Minister to visit the decades-old unwavering ally. Better late than never. Both countries are tied by culture, history, democracy and now there is be a fourth factor — technology.
PM Modi’s visit to Israel is set to boost the confidence of Israeli investors and innovation-entrepreneurs in India. The visit may also prove to be a catalyst for building a hi-tech triangle among Bangalore, Tel Aviv and Silicon Valley in future. Reason: While Indians and Israelis have proven themselves in Bangalore and Tel Aviv respectively, they also dominate the Silicon Valley in the US. Israeli PM Benjamin Netanyahu emphasised this in his speech on Wednesday, saying the two most spoken languages in the Silicon Valley are Hindi and Hebrew. The third is native English, he said.
Technology partnership with Israel for the future was also one of the top agenda of PM Modi’s visit to Tel Aviv. Both countries have already signed seven big MoUs in this regard. What is more interesting is the fact that some Indian-American entrepreneurs are trying to build a “robust triangle” to connect the three tech hot spots of the world — Bangalore, Tel Aviv and Silicon Valley.
Sharing the vision of the hi-tech triangle, MR Rangaswami, a Silicon Valley-based investor and software executive, told The Jerusalem Post on Monday, “Maybe we could envision an Israeli investor putting money into a company in India that sells to the US market through an office in Silicon Valley.” It could also be the opposite, where an Indian-American would invest in Israel and sell products to India.”
According to The Jerusalem Post, around 15 India-American business leaders including Rangaswami have visited Israel on a trip organised by Indiaspora organisation and the American Jewish Committee during PM Modi’s historic visit to the country.
According to Rangaswami, at present, one out of every three startups in the Silicon Valley has an Indian-American founder or CEO. The Indian-Americans visiting Israel along with him are interested in the Israeli innovators specialising in cybersecurity.
Over the next week, the virtual hi-tech triangle may start rolling with Indian-Americans investing in an Israeli startup, Rangaswami said.
Another member of the Indiaspora delegation and chairman of India’s KPMG, Arun Kumar, told The Jerusalem Post that there is tremendous potential in connecting Banglore, Tel Aviv and Bangalore. Kumar said India, US and Israel can benefit by connecting start-up ecosystems and incubators in all three places as well as by an increasing number of Indian students at Israeli universities.
Jason Isaacson of the American Jewish Committee told the Israeli daily that there is “almost unlimited” potential between the three countries. “It’s really a trilateral fit – Israel, India and the United States – in terms of hi-tech, in terms of the entrepreneurial spirit, in terms of the high value given to innovation.” Isaacson also noted that “synergistic possibilities” are immense as India and Israel grow in different sectors and the US remain the world leader.