$4.3 billion pacts inked at India-Israel CEOs' forum
As many as 12 strategic pacts envisaging investments worth $4.3 billion were signed between Indian and Israeli companies at the first meeting of CEO forum in Tel Aviv on Thursday, according to Ficci.
"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 trade volume 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 Narendra Modi and his Israeli counterpart Benjamin Netanyahu and the co-chair from both sides submitted a brief meeting outcome report to them for developing future course of economic engagements.
"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," Ficci 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 high speed railways and metro), pharma, life- sciences, digital technologies, IT and ITes, start ups and innovation and defence and homeland security. Shraga Brosh, co-chair from the forum from Israeli side, said: "We have identified great business opportunities for Israeli companies in India 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 defence."
During the forum meeting, Invest India promoted by the Ministry of Commerce and Industry shared that a dedicated desk has been set up in their organisation to promote Israeli investments into India and partnerships between India and Israel. It will act as a single-window agency providing comprehensive services for all Indo-Israel ventures.
Modi, Netanyahu witness Israel's pioneering water desalination tech
Prime Minister Narendra Modi along with his Israeli counterpart Benjamin Netanyahu on Thursday witnessed the demonstration of sea water purification technology pioneered by Israel at a water desalination unit on Olga Beach here.
Both the leaders, dressed casually, carefully listened to the demonstration at the Gal-Mobile water desalination unit on Olga Beach and also had a long chat among themselves.
Gal-Mobile is an independent, integrated water purification vehicle, designed to produce high-quality drinking water. It can be useful in natural disasters like floods, earthquakes, military use in difficult terrain and rural areas to provide drinkable water, the Indian Prime Minister's Office said.
"It can purify up to 20,000 litres per day of sea water and 80,000 litres per day of brackish/muddy or contaminated river water and bring it to World Health Organisation standards, it said.