Indo-Israeli think-tank to boost trade

New Delhi and Tel Aviv are planning to set up a think-tank, drawing talent from both sides, to facilitate better bilateral trade.

The idea of pooling together scientific talent from the both countries was put forward by the visiting minister of state for commerce and industries Jyotiraditya Scindia during a meeting with Israeli president Shimon Peres here.
   
"What we would like is that this think-tank be based in India and Israeli scientists work with our own to look into new possibilities," Scindia said after the meeting.
   
"I am confident that bilateral trade is set to take a huge leap and setting up of this think tank would give a further push to it. I am going to bring up this idea also during my discussions with Israeli trade and industry minister Benjamin Ben-Eliezer," he added.

Scindhia also also informed Peres that the trade and economic relations committee of the Government of India has given its approval to begin talks on the free trade agreement between the two nations. Israel has been consistently pushing for an FTA with India, after the two countries inked a preferential trade agreement.

The two leaders outlined water and agriculture, IT, homeland security, science and medicine and bio and agro technologies as the key areas for cooperation.

Highlighting the "proliferation of tremendous Israeli expertise that has propelled it to the status of the second Silicon Valley", Scindia said India needs to replicate the same in research and industry.