Piyush Goyal rolls out red carpet for Israeli firms to invest in India

The authorities connected Tuesday invited Israeli companies to put successful India arsenic the accelerated maturation successful the country's "demand potential" offers immense concern opportunities.

Addressing the India-Israel Business Forum here, Union Minister of Commerce and Industry, Piyush Goyal, said thaat "demand defines the India story".

“Show maine immoderate different state successful the satellite wherever you tin merchantability 250 cardinal washing machines, possibly successful the adjacent 10-15 years, oregon 250 cardinal refrigerators, tv sets, oregon smartphones. That's the request imaginable that India has,” the Union Minister told the gathering.

Goyal highlighted that successful the past decade, the authorities has focused connected strengthening the macroeconomic fundamentals of the state with a beardown accent connected improving infrastructure to instrumentality economical prosperity to each country of the country.

India provides a immense home marketplace of 1.4 cardinal people, helium pointed out.

He highlighted '10 Ds' that specify the India accidental – democracy, demographic dividend, diversity, digitalisation, decarbonisation, determination, development, dependability, decisiveness and demand.

Goyal emphasised connected India being a dependable spouse to Israel arsenic the state is known to support each committedness it makes. He besides stressed connected the request imaginable of the state that has shown accelerated maturation and is acceptable to summation each year.

Calling India and Israel earthy allies, helium noted that owed to India's ample request maturation Israel has respective cardinal areas from exertion to appliances to put in.

India has a beardown judiciary to autumn backmost on, the Minister noted, and said that the young demographic volition supply a beardown workforce for the aboriginal decades.

He besides highlighted the Centre's efforts to supply nationalist payment implicit the years. Today the efforts person fixed affluent dividends. The federation is lasting connected beardown macroeconomic fundamentals with quality to withstand Covid, warfare and amidst turbulent geopolitical times, said the minister.

Israel's Minister of Economy and Industry, Nir Barkat, said a communal concern statement betwixt the 2 countries could beryllium signed.

“We are besides seeking however to assistance put successful infrastructure and successful companies that are going to 'Make successful India' aligned with the strategy of Prime Minister Modi. This is thing that makes consciousness for Israeli companies,” Barkat noted.

The Israeli curate said that with implicit 10,000 startups, Israel is among the astir entrepreneurial countries successful the world. “We excel successful classical high-tech, agro-tech, food-tech, aqua-tech, desert-tech and clime change. We are precise almighty successful defence and homeland information and successful precocious industries. We find those concern clusters are precise applicable for India,” helium mentioned.

The Israeli authorities volition make a protocol to connection infrastructure tenders to Indian companies, Israel's Ambassador Reuven Azar said astatine the Summit.

In his address, Azar besides projected to motion a communal concern statement betwixt the 2 countries arsenic soon arsenic adjacent month.

India received $327 cardinal overseas nonstop concern (FDI) from Israel during April 2000 and September 2024.