In Israel, Indian minister calls for building joint industrial park

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April 28, 2015 18:37

Israel and India have potential for improved ties that would take advantage of Israel's tech and brains and India's production capacity and skilled labor, says Devendra Fadnavis.

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Devendra Fadnavis

Devendra Fadnavis. (photo credit: YOUTUBE)

Devendra Fadnavis, chief minister of India’s second largest state, called for building a joint Indian-Israeli industrial park during a speech at Tel Aviv University.

Israel and India had potential for improved ties that would take advantage of Israel’s technology and brains and India’s production capacity and skilled labor, he said Monday.

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The two countries could collaborate on smart cities, water managements, and advanced industry.

Maharashtra state makes up 15 percent of India’s GDP and accounts for 30% of its exports, and Fadnavis said that its capital Mumbai had the potential to become a global financial center. “When Maharashtra grows, India grows,” he said, praising Prime Minister Narendra Modi as an economic reformer.

Israel has been taking steps to enhance its relationship with India, one of the world’s most important emerging markets. Those efforts are part of a general strategy of boosting ties with Asia, which Prime Minister Benjamin Netanyahu has cited as a central growth engine for Israel’s economy.

In 2013, trade between the two countries stood at $4.39 billion, and consisted mostly of precious stones, chemicals, textiles and minerals.

During the visit, Tel Aviv University President Joseph Klafter signed a cooperation agreement with MNIMS University in Mumbai.

“Tel Aviv University is looking eastward, even if traditionally we’ve tended to look westward to Europe,” he said.


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