Commercial Wing

 

 

I4F 10th call for action

On 27 March 2023, India and Israel launched the latest call for proposals under the India-Israel Industrial R&D and Technological Innovation Fund (I4F) inviting Israeli technological companies and their Indian counterparts to submit joint proposals for industrial R&D and pilot projects under all sectors (except defense). While the nodal point on the Indian side is the Technology Development Board (TDB) under the Department of Science and Technology, the Israel Innovation Authority is the nodal point on the Israeli side. The calls are open until 10 August 2023.Meeting the President of Diamond Exchange Boaz Moldavsky.

 

Round table of Department for Promotion of Industry and Internal Trade, Invest India and Israeli Officials

On April 18, an investment roundtable was organized in Delhi with the participation of Shri Sanjiv, Joint Secretary at DPIIT (Department for Promotion of Industry and Internal Trade), and Mr. Hadar Shor, Director of MENA India & China at the Ministry of Economy & Industry, Israel, and Ms. Ayeletn Nahmias Verbin, Chairperson of the Israel Export Institute. The event was also attended by the team from Invest India, which presented an array of investment prospects across different sectors in India
In the event. The business delegation from Israel, led by the head of the Israel Export Institute, Ayelet Nahmias-verbin, was assembled by the Deputy Director General Lior Konitzki and the Vice President of International Relations Sabin Segal. The delegation includes entrepreneurs and exporters representing a variety of industries - including cleantech, energy, automotive and fintech.

During the visit, H.E Barkat held a bilateral meeting with India's Minister of Commerce and Industry, Shri Piyush Goyal, and Minister of MSME, Shri Narayan Rane.

Bilateral Trade crosses USD 10 billion in FY 2022-23
As per the data from the Ministry of Commerce and Industry of India, the bilateral merchandise trade between India and Israel for the period April 2022 to March 2023 crossed USD 10 billion with Indian merchandise exports amounting to 7.98 billion in the financial year. This is the first instance wherein the bilateral merchandise trade crossed USD 10 billion in a year.
 

The Manufacturers Association of Israel sent a delegation to attend Ind-Texpo 2023, an event organized by The Cotton Textiles Export Promotion Council, held in New Delhi, India on March 22-23. During the event, the delegation had valuable interactions with top-notch yarn and fabric suppliers, learning about new prospects and opportunities for global business expansion. They also gained insights into the challenges associated with trading in this industry. TEXPROCIL - The Cotton Textiles Export Promotion Council played a crucial role in providing the delegation with vital information about the offerings and potential of the Indian textile market.

Yalin Lapidot Holdings Report: India ends 2022 with positive return on markets

Over the past five years, both the Tel Aviv 90 index and the India index demonstrated remarkable growth, surpassing even the Nasdaq. However, when it comes to the overall performance, only one of them concluded 2022 with a positive return: India, which experienced a notable increase of 4.9% according to the report. The Indian economy, is already today the fastest growing economy in the world and is expected to grow to 7.5 trillion dollars by 2031. Indian exports are expected to double during this period. India's GDP is expected to more than double by the end of the decade and make India the third largest economy by 2027.

Link: https://www.maariv.co.il/business/economic/international/Article-987856

 

RBI has allowed banks from 18 countries to trade in rupee

On March 21 Banks from 18 countries have been permitted by the Reserve Bank of India (RBI) to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees. Among those countries also Israel, Procedures for trade in INR have been delineated by the RBI in the Circular (No 10 RBI/2022-2023/90 dated 11.07.2022 on ‘International Trade Settlement in Indian rupees’. RBI has also issued FAQs on its website.

 

Link: https://www.wionews.com/business-economy/rbi-allows-banks-from-18-countries-to-trade-in-rupees-what-does-it-mean-573123

Israel Trade Minister Nir Barkat aims to expand business ties with India

In a bid to bolster ties between Israel and India, the two countries are looking to expedite the Free Trade Agreement (FTA) which has been in the works for nearly a decade. The Israeli Trade Minister will be holding talks with his Indian counterpart to finalise the deal. Minister Barkat appeared on CNBCT-TV18 and highlighted that Israel is quite inspired by what it sees in India and is looking to expand its export and import activities in the country.

Steel Day Summit is the premier's exhibition on steel industry. MX Business Network the orginisers of the event dedicatedly promoting Steel Construction in India since a decade, and in the interest of the industry has established different platforms wherein the Steel industry meets and explores business opportunities pretty frequently.  During the event major Indian companies participate and will generate multiple business prospects. STEEL DAY SUMMIT 2023 will be held from 11th - 12th May 2023 at The Lalit Mumbai, India.

 

For more information: https://tradeshows.tradeindia.com/steelconstructionsummit/

 

India Machine Tools Show 2023, The 9th edition of IMTOS, a prestigious name in global machine tool trading and sourcing, will showcase the industry's giants and international pavilions from key countries and makers. With a high focus on providing real values business opportunities to exhibitors. IMTOS steadily shows strong efforts in increasing its exhibitors' rate of return. With an exhaustive range of overseas participation, worthy and nationally acclaimed enhanced technologies and business tactics, IMTOS 2023 is the appropriate portal to explore the market trends and watch out for competition Keen interest from renowned industry and global change makers has set newer and higher standards in terms of footfalls, serious business inquiries and business generation. The event will be held between 18-21 May 2023 at New Delhi.

 

The Clothing Manufacturers Association Of India CMAI is the pioneer and most representative Association of the Indian apparel industry for over five decades. It has a membership base of over 20,000 companies, including Readymade Garment Manufacturers, Exporters, Retailers and Ancillary Industry. With it’s headquarter in Mumbai, CMAI also has branches in New Delhi, Bangalore and Pune. CMAI’s North India Garment Fair will be Showcasing over 200 Leading Indian Brands who would present their Latest Festive Collection to the visiting Retailers.

 

For more information: https://cmai.in/about-cmai/

 

Registration: [email protected]

 

Gas India 2023 Expo is an International Exhibition focus on Gas and allied industry will showcase the latest sector-specific services, developments, technologies and equipment’s and this event will attract high quality visitors and decision makers from the national and international gas industry. this is a unique event for the key players from the energy field. The major enterprises and professional visitors from all over the world will come together to this efficient trading, technology, and knowledgeable platform to boost the development of the natural gas industry.

The expo aims to provide a high-quality international business development platform where our exhibitors can expand business, conduct technology exchange, display new products, and find cooperative partners.

The event will occure between 06-08 July at India Expo Mart, Uttar Pradesh.

 

[email protected]

 

Commercial Wing local team:
-Mr. Yanir Zamir, Marketing Officer

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