India - Israel trade relations is a win-win situation

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India - Israel trade relations is a win-win situation

"India can possibly become a 10 trillion economy in the next 10 years through combining engineering, entrepreneurship, innovation creating huge business opportunities," added Sawhney.

December 6, New Delhi: India-Israel relations are moving fast beyond the traditional cooperation in defense to grabbing the huge economic opportunities brought by the fast development in both the countries.

“The prospect of economic cooperation between India and Israel is tremendous. Nearly a decade ago Indian economy was coming out of age after the liberalization since then it has made rapid progress offering huge opportunities for the foreign companies. Similarly, Israel is also a very vibrant economy in the Middle East which makes a case for both the countries to reap the dividend of the economic progress,” said Stanley Bergman, CEO and Chairman, Henry Schein.

Echoing the same sentiments Nikhil Sawhney, Vice Chairman and Managing Director of Triveni Turbine Limited said: “the two countries have the same complementary ways and there are no major differences dividing them which makes it a viable partnership.”

“India can possibly become a 10 trillion economy in the next 10 years through combining engineering, entrepreneurship, innovation creating huge business opportunities,” added Sawhney.

Professor Joseph Klafter, President, Tel Aviv University accentuated for exploiting the opportunities in the education sector saying “It’s a win-win situation for both the countries as there are huge opportunities in the education sector. In the last few years, the Israeli universities have been very successful in attracting the Indian students.”

He even offered the help of Israeli universities in developing and sharing the curricula for their Indian counterparts apart from facilitating the exchange of research scholars between the two countries.

The speakers unanimously exhorted for trilateral relations between India, Israel and the USA which will help in tapping the trade potential to its full.

Stanley added that “Indian and Israeli communities living in the USA have been playing a very decisive role in building a trilateral partnership as evident on many occasions especially during the time of passage of civil nuclear agreement or highlighting the cases of hate crimes.”

Despite a very optimistic outlook for the trade cooperation between the two countries, a word of caution came from Jamshyd Godrej, Chairman, Godrej and Boyce Manufacturing Company Limited who said that the economic development should not come at the cost of the environment urging New Delhi to reign in the present poor air quality and manage its water resources more judiciously.

The participants were speaking at a panel discussion organised by Ananta Aspen Centre at the Taj Palace in New Delhi. The Israeli speakers were accompanied by a large Israeli delegation who also shared their views on the tremendous opportunities provided by the Indian economy in fields as diversified as engineering, health, water management and agriculture among others.

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Diplomatist Magazine was launched in October of 1996 as the signature magazine of L.B. Associates (Pvt) Ltd, a contract publishing house based in Noida, a satellite town of New Delhi, India, the National Capital.

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