New Delhi, Nov 21 India is looking for a deep partnership with Israel to promote the startup ecosystem for deeptech and high-quality innovations, Commerce and Industry Minister Piyush Goyal said on Friday.
During his visit to the Peres Center for Peace and Innovation in Israel, Goyal said that India aspires to become the startup capital of the world in the years ahead.
“One of the elements is going to be technology and innovation in our comprehensive partnership with Israel. Today, I had the privilege of visiting the Peres Center for Peace and Innovation to understand how such a small nation could come up with such big innovations. And I am very impressed with the way they have converted adversity into opportunity,” the minister told the media.
He commended the way Israel has played at the interface between their defence requirements, agriculture requirements, and modern technology for health and climate change.
“I believe we can collaborate with Israel to promote our own startup ecosystem, aspiring to take it to the levels of deeptech and high-quality innovation at competitive prices, given the economies of scale that India has to offer,” said the minister.
He added that India is looking at a deep partnership with Israel who has one startup for every 1,000 people in their population.
At the Peres Center for Peace and Innovation, Goyal said: “An inspiring hub highlighting Israel's journey in creativity, technology, and social impact. The exhibition offered valuable insights into how innovation can drive growth and development”.
Earlier, Goyal said that with India and Israel setting in motion the process for free trade agreement (FTA) negotiations, the trade pact will be a stepping stone to our shared prosperity. After signing the Terms of Reference (ToR) with Israel's Minister of Economy and Industry, Nir Barkat, in Tel Aviv to guide the negotiations for a FTA between India and Israel, Goyal said it is the first crucial step towards facilitating talks to “conclude a balanced, comprehensive, and mutually beneficial FTA to strengthen and enhance our trade, economic, and strategic partnership”.
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