The participation of Israel in India’s research and development industry will create new opportunities for two countries, said H E Yahel Valen, Deputy Ambassador of Israel, to India, during an Interactive Session held in Bhubaneswar, Odisha.  The potential areas for cooperation between the two countries are information technology, pharmaceuticals and biotechnology, and engineering, he added.

According to him, India can benefit from Israel’s productive agricultural technology.

“CII recently established the Food and Agriculture Center of Excellence for infusing new technologies into farming and related sectors. We would like to work with the agencies based in Israel for converging business and farming endeavours to achieve greater productivity in the agricultural sector in India,” H E Yahel Valen said.

In his welcome address, Mr M K Gupta, chairman, CII Odisha State Council, said ever since India and Israel established diplomatic ties in 1992, bilateral economic engagement has grown stronger.

“Our commercial partnership, which was worth about $5 billion in 2010, will increase further. India ranks sixth among global trading partners for Israel,” Mr Gupta said.

“Besides trade, the two countries have forged partnerships in areas such as agriculture, defence, science and technology, and research and development.”

“In the emerging knowledge era, the two countries have forged synergies that make them perfect partners. Israel is not only a global leader in sophisticated technologies and advanced manufacturing products, it also has the creative and innovative instincts that make it a frontrunner in high-technology research and development spaces,” Mr Gupta observed.