"We attach immense importance to our ties with India and see this meeting as very important," a source in the Israeli government said here.
Netanyahu is scheduled to arrive in New York later today to attend UN General Assembly. Modi is already in the city and had made his first address to the UN body yesterday.
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Modi will also meet an influential American Jewish group which had congratulated him soon after his electoral victory.
External Affairs Minister Sushma Swaraj will also hold bilateral talks with her Israeli counterpart Avigdor Lieberman next week in New York.
Israeli businessmen recall the warm welcome they received in Gujarat when Modi was the state's Chief Minister and expressed hopes that it will be replicated nationwide following his ascendance in Delhi.
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