“India and Israel’s common rival is terrorism, and prime ministers of both countries work with a shared purpose to eliminate it,” said Union Minister of Commerce & Industry Piyush Goyal during his address at the India-Israel Business Forum organised by the Confederation of Indian Industry (CII) on Tuesday.
Calling India and Israel natural allies, he reiterated that due to India’s large demand growth, Israel has several key areas from technology to appliances to invest in.
Mr. Goyal noted that in the last decade the government has aimed at “strengthening the macroeconomic fundamentals of the country with a strong emphasis on improving the infrastructure to take economic prosperity to every corner of the country.”
He further underlined the central government’s efforts to provide public welfare over the years. “The nation is standing on strong macroeconomic fundamentals with the ability to withstand Covid, war, and turbulent geopolitical times,” he said.
He further spoke of 10 Ds—Democracy, Demographic dividend, Digitalisation of the economy, Decarbonisation, Determination, Dependability of India, Decisive leadership, Diversity, Development, and Demand.
India has a strong judiciary to fall back on, the minister noted, and said that the young demographic will provide a strong workforce for the future decades to come.
Minister Goyal stressed India being a reliable partner to Israel, as the country is known to keep every commitment it makes.
He also emphasised the demand potential of the nation that has shown rapid progress and is set to increase every year.
India and Israel share a strong connection in technology and innovation, making them natural economic allies.
With India rising as a global hub for manufacturing and technology and Israel’s expertise in high-tech industries, both forums will play a significant role in strengthening business-to-business (B2B) and government-to-business (G2B) ties.
Both forums align with the long-term vision of deepening economic relations between India and Israel, empowering investment, technology transfer, and trade.
