NAMO In Israel: India-Israel Sign $4.3 Billion Strategic Pacts
PM Narendra Modi, who is the first Indian PM to visit Israel, held wide-ranging talks with his Israeli counterpart Benjamin Netanyahu. In his historic visit to Israel, Indian and Israeli companies signed strategic pacts worth $4.3 billion (excluding defence) along the sidelines of the first CEOs Forum held in Tel Aviv on Thursday (7 July).
Business leaders from both the countries have urged the government to restart the discussions on an FTA (Free Trade Agreement) to deepen the economic ties.
Modi has announced the setting up of an Indian Cultural Centre in Israel as part efforts to enhance people-to-people contacts between the two countries. He appreciated the contribution of the Jewish community in India and Jews of Indian origin in Israel in bringing the two societies closer.
As a part of the visit, India and Israel have signed seven agreements to increase cooperation in key sectors like space, agriculture and water conservation.
A Memorandum of Understanding (MoU) was signed for setting up of 40 million USD, India-Israel Industrial Research and Development (R&D) and Technical Innovation Fund.
Besides, separate MoUs were signed on cooperation in GEO-LEO optical link and cooperation in Electric Propulsion for small satellites.
In the agriculture sector, the two countries have agreed for India-Israel Development Cooperation - a three-year work programme in agriculture from 2018 to 2020.
PM has announced flight services between Delhi, Mumbai and Tel Aviv to be launched soon.
PM has also promised OCI (Overseas Citizenship of India) and PIO (Persons of Indian Origin) cards to Indians in Israel.
Modi also said that during their talks he and Netanyahu agreed to do much more together to combat terrorism to protect their strategic interests.
"Our ties with Israel are about mutual trust and friendship", said Modi.
