India, Israel Ink $40 Million Innovation Initiative

Prime Ministers from Israel and India sign agreements worth tens of millions of dollars intended to spark new technology.

Prime Minister Benjamin Netanyahu and his Indian counterpart Narendra Modi agreed Wednesday to take steps to counter radicalism, extremism and cyber-terrorism, and also signed a $40 million agreement to found a bilateral technology fund.

These events transpired on the second day of the visiting prime minister’s trip to Israel. As of Wednesday, Israel and India had signed seven agreements – three on space, two on water, one on innovation and one on Mashav, the Agency for International Development Cooperation which will set up further centers of agricultural excellence in India.

“Israel is among the leading nations in the field of water innovation and agricultural technologies,” said Modi, adding that the two two countries had agreed that water management and increasing agricultural productivity were key areas in deepening bilateral cooperation.

“Together our scientists and researchers will develop, build and implement mutually beneficial solutions in the field,” Modi said. “Our decision to establish a bilateral technology innovation fund worth $40 million for research in industry development will help us in achieving this bedrock of a strong partnership.

By: Ilan Evyatar/TPS