The Hindu Business Line : Biz delegation visiting Israel for strengthening economic ties

A high-level business delegation led by the Minister of State for Industries, Mr Ashwani Kumar, would visit Israel on August 5-6 to intensify economic engagement, and also to identify areas of investment and cooperation in high-tech areas.

Talking to Business Line here on Tuesday, Mr Kumar said that “India had embarked upon a sustained and a comprehensive strategic relationship with Israel and following this the economic engagement between the two countries has seen manifold increase.”

He said the objective of his forthcoming visit to Israel, at the personal invitation of the Israeli President, Mr Simon Peres, when he was the Deputy Prime Minister of Israel, is to “deepen the engagement and explore new avenues not only for Israeli investment into India but also Indian investment into Israel”.

Pointing out that Israel is looking into three or four areas for Indian investment, Mr Kumar said that in real estate, billions of dollars are available with Israeli government and the private sector for the development of the real estate infrastructure, which needs more commercial complexes, residential apartments and the like.

In this context, he said, “They are obviously extremely keen for having access to India for their water conservation, purification and recycling, and nanotechnology. The Israeli President’s Galileo Programme is primarily driven by nanotechnology, which he is personally monitoring.”

He said Israel is looking for access to Indian software and investment, and in return would be more than willing to let India and Israel cooperate in nanotechnology, biotechnology, water management, real estate, security and defence. There would be one-to-one meeting with leading CEOs and visits to various technical parks in Israel, he added. From Indian side, the companies include Larson & Tubro, Videocon and Marshall Realty Consultants Pvt Ltd.

Fighting terror

Mr Kumar said the fight against terrorism is the common area for cooperation and Israel has been “forthcoming in sharing their advanced technology in this area to India”.

Asked about whether the warming up with Israel would raise the political hackles here and abroad, the Minister said “Our relationship with one country is not at the expense of our relationship with our traditional Arab friends. That will remain. Israel understands this and they never made any unreasonable demand, and in our national interest our deepening of relationship with Israelis should be acceptable.”

On his recent visit to Japan, Mr Kumar said the purpose was to showcase Indian textile sector and to make the visibility of Indian textile at a much enhanced level. That is why a well-organised fashion show was put up, in which fabrics designed by legendary Japanese fashion designer Ms Hiroko Koshino and Manish Arora from India were on display.

Centenary celebrations

He said that he also interacted with Chairman of Mitusi, Mr Ohasi, Vice-Chairman of Marubeni, Mr Sakamoto, and also Member of the Board of Toshiba and Chairman of JETRO. He said the meeting with Japanese CEOs was necessitated for the Delhi-Mumbai freight corridor, which is $100 billion project (Rs 4 lakh crore) and it is primarily driven in cooperation with Japanese private sector.

Mr Kumar said that he is leaving for Johannesburg, South Africa, on Tuesday to take part in the centenary celebration of Indian Merchant Chamber of Commerce of South Africa whose first member was Mahatma Gandhi. About 300 Indian business persons would be taking part in the event, he added.

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