India to Strengthen Trade and Investment with Israel, Says PM Modi

Tel Aviv, February 26: Prime Minister Narendra Modi announced India’s commitment to enhance trade with Israel, strengthen investments, and advance joint infrastructure development. He emphasized that the bilateral investment treaty signed last year will provide assurance and stability for businesses in both nations.

During his historic address in the Israeli parliament, PM Modi highlighted India’s significant trade agreements in recent years. He stated, “To your west, we have agreements with the European Union and the UK, and to your east, with the UAE and Oman. Our bilateral trade with Israel has increased manifold in recent years, yet it does not fully reflect the potential. Therefore, our teams are working on an ambitious Free Trade Agreement (FTA) that will unlock greater opportunities in our trade relations.”

The Prime Minister also mentioned collaborative efforts through platforms like the I2U2 framework involving India, Israel, the UAE, and the USA, as well as the India-Middle East-Europe Economic Corridor.

He remarked, “Israel is often referred to as a ‘start-up nation.’ In recent years, we have also aimed to foster innovation and creativity among our youth. In 2018, Prime Minister Netanyahu and I inaugurated the iCreate Technology Business Incubator in India, which has since supported nearly 900 start-ups.”

PM Modi shared that last week, India hosted the world’s largest and most comprehensive AI Impact Summit, attended by representatives from over 100 countries. He noted, “Our ambitions align with Israel’s innovation ecosystem. There are vast opportunities for collaboration in areas like quantum technology, semiconductors, and artificial intelligence. We are also working on creating cross-border financial connectivity through digital public infrastructure.”

He praised Israel’s agricultural successes in the desert, stating that Israeli expertise in precision irrigation and water management has transformed agricultural practices in India.

“We have jointly established 43 centers of excellence in India, training over 500,000 farmers. Now, we should aim to establish 100 centers to benefit millions of farmers and fishermen,” he concluded.