 "Israeli, Israeli-Palestine, Hamas group, Israeli attack")
As the conflict between Israel and Hamas has intensified, global technology companies in Israel may shift their business operations to India or other locations such as the Middle East or Eastern Europe, if the war escalates further, an Economic Times (ET) report said.
It further said that the businesses may shift to locations with similar time zones and talent capabilities.
According to reports, Israel is home to over 500 global companies, including Microsoft, Intel, and Google. Indian firms such as Wipro and TCS also have businesses in the country. These companies employ at least over 100,000 people.
While the high-tech industries have been the fastest growing sector in Israel, they are likely to face massive disruptions as the Israeli military shifts to a war footing that may include a full-scale invasion of the Gaza Strip, reported Reuters.
According to the spokesperson for chipmaker Intel, Israel's largest private employer and exporter said that they are "closely monitoring the situation in Israel and taking steps to safeguard and support our workers."
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Notably, Intel's shares fell 0.5 per cent on Monday, two days after the Hamas militants killed hundreds of Israelis and abducted an unknown number of others in a surprise attack.
Israel-Hamas war
The war between Israel and Hamas entered its sixth day on Thursday and is furtexpected to escalate further.
According to the latest reports, over 2,300 people from both sides have been killed so far, while thousands of people have been injured and displaced.
In a late-night televised address, Israeli Prime Minister Benjamin Netanyahu vowed to rush and destroy Hamas.
"Hamas is Daesh [Islamic State group] and we will crush them and destroy them as the world has destroyed Daesh," the Israeli PM said.
(With agency input)
