cross-border investment in technology through collaboration among start-ups in the two countries and research are likely to reach $25 billion (nearly Rs 1,66,318 crore) by 2025, estimates a joint report by a software services lobby Nasscom
have jointly stated, in their report called Vision 25/25, that's a cumulative cross-border investment in about 25 world-class products across different sectors could potentially unleash a revenue of up to $25 billion over the next 7-8 years.
The report is announced at a time when India
are marking the 25th anniversary of the establishment of diplomatic ties between two nations and Prime Minister Narendra Modi
is on a three-day visit to Israel.
While the cumulative cross-border investment in research and development is estimated to be $14 billion by 2025, the rest of the projected investment should take place through start-up collaboration, said Raghav Narsalay, Managing Director, Accenture
Research. This does not include any defence-related trade deals.
The investment opportunities could be in the field of deep technology
and other areas such as healthcare and life sciences, renewable energy agriculture.
"Even if we are able to capture 0.57 per cent of those markets through products and other areas, we could possibly reach $25 billion. Which is achievable. For example, the smart city market itself by 2015 will be a couple of billion," said Narsalay.
Even though the two nations have complemented each other in many different technology and trade aspects, added Narsalay, it is the time they create a "systematic approach" to strengthen the bilateral relationship and investment in deep technology
and other areas. "A systematic approach and an institutionalised framework are needed for India
to capitalise on their complementary strengths, deepen relationships and strengthen understanding of each other's markets."
The report has recommended creation of a programme called INSPIRE (Israel-India
Startup Platform for Innovative Research and Entrepreneurship). "This framework aims to unleash the combined power of these two nations to deliver on Vision 25/25, by combining their strengths across three areas: talent, technology and temperament."
Interestingly, explaining the broad spectrum of talent and technology sharing by the two nations, the report mentioned that nearly one-third of all the American startups with billion-dollar valuations have an Indian or Israeli founder.