Many Israeli companies are keen to work, invest and do business in India and they would like to produce in India as part of the ‘Make in India’ proposal, Israel’s acting Consul General Dov. Segev-Steinberg said.
Mr. Steinberg, who is in Chennai to promote an international water conference in Israel ‘Watec Israel 2015’ to be held in Tel Aviv between October 13 and 15, said a couple of Israeli companies are also interested in working on the ‘Smart Cities’ project. The Watec conference will provide companies the opportunity to learn about new and advanced water technologies in the world, he said.
“We have Israeli companies already investing in India and vice versa. Already a few (Israeli) companies are producing in India. I believe that more and more companies will produce here because of “Make in India”, he said. “For example, they are trying to get some of the work that will be done in the ‘Smart cities’. One of the conditions presented to us in the negotiations was it should be made in India”.
The ‘Make in India’ proposal would also make it cheaper for Israeli companies to manufacture their products as manufacturing costs are lower here, Avi Friedman, consul for Trade and Economic Affairs, said. “The market in India is very big,” he said. Mr. Friedman said trade between India and Israel was about $5 billion dollars and there was a huge scope to double it in the coming years.
Mr. Steinberg said India can make use of Israel’s advanced water technologies and use them as they see fit.
They also met with top officials of the Tamil Nadu government, who expressed interest in participating in the exhibition, Mr. Steinberg said. The Israeli officials also met with industry bodies CII and FICCI.