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$4.3-bn pacts inked at India-Israel CEOs forum, says Ficci

A brief meeting outcome report was submitted to outline developing future course of economic actions

Press Trust of India  |  New Delhi 

Olga Beach: Prime Minister Narendra Modi with his Israeli counterpart Benjamin Netanyahu at the Olga Beach in Israel on Thursday. (Photo: PTI)
Olga Beach: Prime Minister Narendra Modi with his Israeli counterpart Benjamin Netanyahu at the Olga Beach in Israel on Thursday. (Photo: PTI)

As many as 12 strategic pacts envisaging worth $4.3 billion were signed between Indian and Israeli companies at the first meeting of CEO forum in Tel Aviv today, according to

"The forum identified and stressed on the need to realise opportunities in focus sectors identified during the first meeting of CEOs forum. There was a consensus that the current amounting to just over $4 billion has the potential to reach $20 billion in the next five years. To realise this goal, the forum underlined key recommendations to two heads of states," the industry body said in its statement.

Post the meeting, the forum members called on Indian Prime Minister and his Israeli counterpart Benjamin and the co-chair from both sides submitted a brief meeting outcome report to them for developing future course of

"It is a very exhilarating for me to share that during this historic visit of our prime minister to Israel, 12 MoUs are signed between Indian and Israeli companies," President Pankaj Patel said.

The CEOs from both sides also identified focus sectors for mutual collaboration that included agriculture, irrigation, water treatment, urban infrastructure, transport (including and metro), pharma, life- sciences, digital technologies, IT and ITes, start ups and innovation and and

Shraga Brosh, co-chair from the forum from Israeli side, said: "We have identified great business opportunities for Israeli companies in in sectors such as transport infrastructure, including roads, railways, civil aviation and traffic management systems, smart cities, renewable energies, water and environment, automotive, food, naval and aerospace industries and "

During the forum meeting, Invest promoted by the Ministry of Commerce and Industry shared that a dedicated desk has been set up in their organisation to promote Israeli into and partnerships between India and It will act as a single-window agency providing comprehensive services for all Indo-ventures.

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Prime Minister on Thursday invited the Israeli industry to participate in 'Startup India' initiative, saying his government has done a lot to improve the ease of doing business and is positioning the country as a global manufacturing hub.

“We have resolved number of regulatory and policy issues facing businesses and firms,” Modi said at the launch of India-Israel CEOs’ Forum in Tel Aviv. Memoranda of understanding worth about $5 billion were signed during the prime minister’s visit. PTI

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 07 2017. 00:51 IST