President’s FTA call
Reuven Rivlin, President of the State of Israel, has hope his visit to India will open the way for a full Free Trade Agreement (FTA) between the two countries.
He also called on business leaders to work closely together to create a stronger market in both countries.
He pointed out that Israel, a rain-deficit country, had evolved technology solutions to meeting its water needs.
Its waste water management know-how could be of immense use for India even as he offered to partner in India’s ‘Clean Ganga’ project and solar energy solutions, said Rivlin while addressing the ‘India-Israel Economic Forum’ during his eight-day visit to India this week.
The Federation of Indian Chambers of Commerece and Industry (FICCI) is in favour of an India-Israel Bilateral Innovation Treaty that promotes businesses linked to innovation, said the trade body’s president Harshavardhan Neotia.
“We in FICCI are firmly of the view that current global geopolitical trends make it ideal for India and Israel to strategize on a Defence and Homeland Security collaboration with a larger role for Indian private sector in co-production and co-development.”
“Together we can build a global campaign to combat droughts which will also generate opportunities to work on global challenges like food security and water management,” Neotia elaborated.
Israel has found the answer to agri-problems of India and complementarities must be developed in the sector, Rita Teaotia, Secretary, Department of Commerce, Ministry of Commerce & Industry, has said.
Collaboration across value chain in the sector must be explored, Teaotia made the call at the ‘India-Israel Business Forum’ held in New Delhi on November 17, 2016.
Teaotia stressed the need to focus on key sectors such as solar energy, irrigation, agriculture and pharmaceuticals.
More such areas must be identified to accelerate the pace of growth and collaboration between India and Israel, said Teaotia, adding that there was a need for translating the initiatives on the ground.
Forum called for India and Israel need to triple current trade volume of US$5 billion to achieve cooperation potential.
Addressing the Forum, Yaffa Ben Ari, Deputy Director General for Economic Affairs, Israel’s Foreign Affairs Ministry, Israel, called for the next level of cooperation and take trade of commodity to trade of knowledge.
Sharing of knowledge was critical towards forging lasting partnerships, she stressed.
Ari highlighted Israel’s proven technologies to enhance agriculture productivity and called on India to form partnership with Israel and step up its agri production.
Research and development was another area where Israel had expertise and India could take advantage of it, she added.
Israel has expertise and technology in almost all the sectors to complement the initiatives such as ‘Make in India’, ‘Smart Cities’ and ‘Digital India’, noted H K Mittal, Adviser, Member Secretary National Science & Technology Entrepreneurship Development Board (NSTEDB).
Meanwhile, FICCI has signed Memorandum of Understanding with Israeli Manufacture Association (MAI) and Israel Asia Chamber of Commerce (IACC), respectively, to tap the potential of partnership between the two countries.
Shraga Brosh, MAI President, has suggested joint ventures for operations in India and in third countries.
The focus, he said, should be on agriculture, homeland security and energy. fii-news.com
