Economy

Will Narendra Modi’s Israel Visit Boost India’s Economy?

Will Narendra Modi’s Israel Visit Boost India's Economy?

It was the first time that an Indian Prime Minister visited Israel in last 70 years of Independence. Modi and Netanyahu shared a much closed rapport but it is important to analyze what India gained from Israel in economic terms.

Inviting Investment and New Technologies Import 

India and Israel have a bilateral trade of $4.52 billion as of 2014. The visit of Prime Minister was to increase the bilateral trade between the two countries on many fronts. Apart from defense, India is keen to invite investment especially in the form of startups and technology transfer. Prime Minister Modi acknowledged the technological growth in Israel and is keen to bring the same in India. In his last day of Israel visit, PM Modi visited a desalination plant near the sea shore with PM Netanyahu.

India has been suffering from lack of pure drinking water from past many years. If desalination technology comes in India market, it will help in desalinating the sea water and convert it into a drinking one. PM Modi also took a meeting with Israeli CEOs in order to boost investment in India. From startups to diamond trade and technology transfer, Modi did numerous meetings and attended 18 events overall.

Ties in Agriculture, Space, Technology and Defense

India is keen to adopt Israeli method of agriculture in order to make our farmers more prosperous. News of farmer suicide depresses every Indian and if India becomes successful in using new technology to enhance agriculture then this can benefit Indian farmers. Similarly in space, India can benefit from Israel’s space technology in defense field, agriculture, research and many more. Advance space technology used by Israel helps in forecasting correct weather conditions.

Israel is all about advance technology which can benefit India in many ways. The dream of PM Modi’s digital India needs help from Israel’s cutting edge technology in the field of IT, optics, telecom, software and many more. Defense is the field where India and Israel are cooperating from long time. India-Israel closed a $2 Billion deal with India which has not been publicized much. Israel has lot to offer and India has lot to learn from Israel. From defense to technology to business, Israel has proved its mettle on all fronts since many decades which India can learn in order develop rapidly.

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