Tel Aviv, February 25: Prime Minister Narendra Modi announced India’s firm commitment to expanding trade ties with Israel, strengthening investments, and advancing joint infrastructure projects. Speaking to the Israeli Knesset in a landmark address, Modi highlighted the recently signed bilateral investment treaty that promises stability and confidence for businesses in both nations.
Over recent years, India has forged key trade pacts with the European Union, UK, UAE, and Oman. Modi noted that bilateral merchandise trade with Israel has multiplied significantly, yet it falls short of its true potential. ‘Our teams are actively negotiating an ambitious Free Trade Agreement (FTA) to unlock vast opportunities,’ he stated.
The Prime Minister emphasized collaboration through frameworks like I2U2, involving India, Israel, UAE, and the US, alongside the India-Middle East-Europe Economic Corridor. Israel’s reputation as the ‘Startup Nation’ resonates with India’s push to foster youth innovation. Modi recalled inaugurating the ICRIET Technology Business Incubator with former PM Netanyahu in 2018, which has since nurtured nearly 900 startups.
India recently hosted the world’s largest AI Impact Summit, drawing representatives from over 100 countries. Modi pointed to immense potential in quantum technology, semiconductors, and artificial intelligence, aligning with Israel’s innovation ecosystem. Efforts are underway to leverage digital public infrastructure for cross-border financial connectivity.
Praising Israel’s desert agriculture triumphs, particularly in precision irrigation and water management, Modi said these have revolutionized Indian farming. Jointly established Centers of Excellence, numbering 43, have trained over 500,000 farmers. ‘Our next goal: 100 such centers to empower millions of farmers and fishermen,’ he affirmed.
This vision underscores a deepening strategic partnership, poised to drive mutual prosperity in an interconnected global economy.