India and Israel sign a MoU worth $4.3 bn

India and Israel relations intends to bring business in India!

The first meeting of the India-Israel CEO forum was attended by PM Naredra Modi and his Israeli counterpart Benjamin Netanyahu in Tel Aviv. The meeting saw the launch of India-Israel start up bridge and signing of 12 strategic MOUs worth $4.3 bn according to Ficci. To quote Modi, “new chapter has been opened in India-Israel relations. The driving force are opportunities for the betterment of lives of people.”

The deals focussed on Start-ups, defence, homeland security, agriculture, irrigation & water treatment, urban infrastructure and transport (including high speed railways and metro), pharma and life-sciences, digital technologies, and IT & ITES. 

He added, “Israel is known as Start-up nation. It has a unique sense and ecosystem of innovation and incubation. Credit must go to the Israeli entrepreneurs.” Speaking about the relation between two countries, he stressed, “there is lot of potential for India-Israel partnership in Startup India. I am happy that India-Israel start-up bridge has been formally launched today.”

PM Modi further stated, “We are positioning India as a global manufacturing hub.This is necessary for us to take advantage of youth energy. For this we’ve launched Make in India.” He added, “we have resolved number of regulatory and policy issues facing businesses and companies. We’ve worked very sincerely for ease of doing business.”

Speaking about the current dominance of GST in the country, the PM said, “GST by far is the biggest business and economic reform of India. Now, we’re moving towards modern tax regime, which is transparent, stable and predictable. CEOs and talents of India and Israel together will sow seeds of miracles for the betterment of world.”

With a recent declaration by Nasscom stating that India could generate great revenues by 2025, do you think this ‘signing’ would come as a boom in the Indian startup domain? Please share your views with us.

Excerpts from: PTI, NDTV, Financial Express