India Israel Trade Relations: Commerce and Industry Minister Piyush Goyal said on Thursday that there are a lot of investment opportunities for Israeli companies in India and the industries of both the countries can increase cooperation in areas like infrastructure development, manufacturing and artificial intelligence.
Goyal said other areas of cooperation between the two countries include financial technology, agricultural technology, machine learning, quantum computing, pharmaceuticals, space and defence.
Commerce Minister concerned
Addressing the India-Israel Business Summit along with Israeli Economic Affairs Minister Nir Barkat, he said, “There are unlimited possibilities and potential between the two countries.” This is the first time that an Indian Commerce Minister is visiting Israel.
Goyal is leading a 60-member business delegation to Israel. He will meet leaders and company heads to discuss ways to promote bilateral trade and investment.
The minister said this
The minister said that there are many things that make India an attractive investment destination. These include democracy, population dividend, digitalization, fast-paced development and decisive leadership. Goyal said, “India provides an investor-friendly and trustworthy environment for business.
This provides a lot of opportunities for companies from both sides.” In the same program, Barkat said that Indian infrastructure companies can come here and bid. He said that the India-West Asia Europe Economic Corridor (IMEC) also provides an opportunity to increase cooperation.
Billed as a pioneering initiative, IMEC aims to establish a vast road, rail and shipping network between Saudi Arabia, India, the US and Europe to ensure integration between Asia, West Asia and the West. The IMEC initiative was finalized during the G20 summit in Delhi in September 2023. India’s exports to Israel declined by 52 percent to $2.14 billion in 2024-25, which was $4.52 billion a year ago.
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