India on Aug 6, asked Israeli expertise in strengthening its own research and development base as the proportion of Israeli gross domestic product to R&D is quite substantial in science and technology. Inaugurating the joint business forum here, organised by the Federation of Indian Chamber of Commerce & Industry (FICCI) and the Israel Export & International Cooperation Institute, the Minister of State for Industries, Mr Ashwani Kumar, said India requires Israeli expertise and experience in R&D for small and medium enterprises in areas such as agriculture, irrigation and chemicals.
India has a huge market of 350-million strong middle class segment and 7.9 million people would have purchasing power of Rs 14,00,000 crore. Mr Kumar highlighted India''s growth story and its integration with global economy and the challenges of inclusive growth, which it was addressing now. Israel with a large percentage of unemployed in sectors other than high-tech could draw some points from the upgradation and rationalisation of traditional industries currently being successfully implemented by India. The Israel Export & International Cooperation Institute said that India is the third trading partner of Asia for Israel after Hong Kong and China and said a potential free trade agreement between the two would ease the way for more joint projects, including one with third parties. The institute is working with Exim Bank of India to identify additional sectors, more partners and fresh ideas to extend the scope of cooperation to new and frontier areas.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment