CEO forum aimed at greater cooperation, reach 20 billion trade in five years: Officials

Ahead of meeting with Indian Prime Minister Narendra Modi on Thursday officials of the Indo-Israel CEO forum said that the goal of the establishment of the forum is greater business cooperation to reach 20 billion trade mark in the next five years.

Speaking to ANI ahead of the meeting, Shraga Brosh, President India-Israel CEOs forum, said, "The goal of the CEO forum is to increase the cooperation between the Indian and the Israeli businesses. We have identified a few sectors like agriculture, water treatment, healthcare, medical devices and others that we are sure we can reach a goal of 20 billion dollar."

"We have created six working groups dealing with each sector separately and experts from both sides will be part of this group," he added.

Eng. Amnon Ofen, member of the forum said that after Prime Minister Modi's visit Indian investment in Israel would increase unlike earlier and would enable both sides to do mega projects and upgrade GDP of the Indian economy.

Meanwhile, Pankaj R. Patel, Deputy President of India-Israel CEOs forum said that 12 MoUS worth over 4.5 billion dollars have been signed between Israeli and Indian companies.

"We expect a lot of business development between the two sides with an aim of reaching a business of 20 million dollars in the next five years," he added.

Prime Minister Modi is the first Indian Prime Minister visiting Israel.

Earlier in the day, the Prime Minister along with his Israeli counterpart Benjamin Netanyahu paid homage to fallen Indian soldiers of World War I at the Haifa Cemetery.