India and Israeli startups can collaborate in areas like cybersecurity and medical devices to boost the innovation ecosystem, Union Commerce and Industry Minister Piyush Goyal said on Friday.
He said one of the key elements of the proposed trade agreement between the two countries would be collaboration in technology and innovation. "We can collaborate with Israel to promote our own startup ecosystem, which we are aspiring to take to the levels of deep tech and high quality innovation at competitive prices, given the economies of scale that India has to offer," Goyal said at a press conference here.
The minister is here to hold bilateral trade talks with his Israeli counterpart Nir Barkat. He is leading a 60-member business delegation. "We are looking at deep partnership with Israel, which has one startup for every 1,000 people. The two countries can also look at setting up a startup bridge," he said.
Israel has converted adversity into opportunity and their agriculture requirements and modern technologies developed in the field of health and climate change are innovative, he said.
Goyal said the collaboration will be important as India aspires to become the startup capital of the world in the years ahead. "There is a lot of interest here to work with Indian startups as India provides scale and opportunities for the future," he said, adding that startups of the two countries can work in areas like cybersecurity, low-carbon steel production and medtech devices.
Also read: India offers huge investment opportunities for Israel: Goyal
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