Israel is making an investment of $68.6 million in India to boost collaboration with the country’s tourism, technology, agriculture and innovation for a period of more than four years.
The venture will supposedly strengthen the relation between the two countries.
The news has come in just before Prime Minister of Israel Benjamin Netanyahu’s four-day-visit to India that is set to start on January 14th. Netanyahu will be accompanied by his wife Sara during the visit. Prime Minister of India Narendra Modi will assist Netanyahu in his visit.
Netanyahu will be leading a high-profile delegation that would consist of 130 businessmen from 102 Israeli companies from varied sectors like agriculture, water, cyber security, health care and security.
The commitment is in addition to the India-Israel Industrial R&D and Technological Innovation Fund of $40 million over five years with equal contribution from both sides that has already been agreed between the two sides, deputy Director General of Israel’s Foreign Ministry, Gilad Cohen, told PTI.
Signing of several MoUs in the fields of oil and gas, renewable energy, amended protocol for airports, cyber security, co-production of films and documentaries are on cards for both the countries.
Also, they will be signing deals in healthcare sector. The agreement will be signed between Israel’s Saare Tzedek hospital and India’s Ministry of Health and Family Welfare.
Technion-Israel Institute of Technology would also be signing an agreement with Ministry of Science and Technology.