Israel, India to set up $40 million fund for joint ventures
Jan. 23, 2014
India and Israel have agreed to set up a $40 million fund to support joint technological ventures for consolidating and strengthening economic ties.
Both the countries will be contributing $20 million each to the fund over a period of five years.
Israel's Economic Minister Naftali Bennett, who last year visited India, announced about the initiative saying it is aimed at consolidating and strengthening economic ties with strategic partners.
"The fund's jewel in the crown is the establishment of a tool to serve as a breakthrough for Israeli entrepreneurs and industrialists in entering the Indian market," Israel's Chief Scientist Avi Hasson said after discussions with Indian government representatives.
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