Israel’s corporate ties with India have been growing in recent years and should continue to grow.
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The 2014 Israel Innovation Conference will be held in Tel Aviv from May 20-22. More than fifty companies from over fifteen different countries around the world and Israel are set to participate. The event is open to start ups and more established companies alike.
One country that will have a significant presence there is India. It is sending representatives from more than thirty of its companies.
They have their own pavilion at the convention which will be held at the Tel Aviv Fairgrounds. The pavilion has been organized by the Indian embassy together with the Confederation of Indian Industry and its government’s Department of Science and Technology’s Global Innovation and Technology Alliance. It will be the largest at the exhibition with the largest number of participating companies out of all of the nations to be represented there.
In an interview posted on the Israel India Business web site earlier this year, Ms. Vani Rao, Deputy Chief of Mission and Head of the Commercial Wing at the Embassy of India in Israel said, “Israel is a very interesting country – there is so much to learn from Israel’s experience. It is very different from India because it is a very small country – but it has succeeded in achieving so much, despite limited resources. I am very impressed by Israel’s achievements in the areas of agriculture and water, and also, of course, in high-tech, IT, defense and homeland security. There is excellent cutting-edge technology to be found in Israel”.
The Indian embassy is central to developing the business relationships between Israel and India, according to Rao she said, “”As an Embassy, we are trying to establish good relations with Israel and with Israeli industry. We give briefings and presentations about the Indian economy and market as well as sector-wise information through seminars and round-table conferences. We send to the Israeli corporate sector monthly newsletters about the Indian market; we send a newsletter to Indian industry also, to increase awareness about the business opportunities in Israel. Business delegations from India come here, and we work with the different Chambers of Commerce in order to set up their programs, B2B meetings and field visits. We advise incoming Indian delegations about the Israeli market, introduce them to potential partners. Ministers from India also visit Israel, and we organize their programs in cooperation with the Israeli government and industry chambers.
“Another thing I have tried to do, is to actively assist companies on both sides in reaching joint ventures, match-making etc… We actually introduce companies to each other or suggest some potential partners that could be suitable for business cooperation. Sometimes this works and we are delighted that we are able to make such introductions.”
Currently there is an estimated $5 billion in trade between Israel and India, half of which comes from agriculture and diamonds. But Indian companies have been looking to expand their relationships with the Israeli high tech sector for some time and so high tech is expected to take a larger role as trade between the two nations increases.
Cooperation is also growing in the field of information technologies. Checkpoint, Magic Software and Ness Technologies are just a few of the Israeli IT companies with a presence in India. Amdocs alone has over 1, 000 employees there.
Biotech is another field with a growing cooperation between Israel and India. Infosys and Tata are two Indian biotech companies that are already working with Israeli start ups.