Growing Israeli passion for business with India

December 10, 2012
Anat-Bernstein-Reich

Bilateral trade between India and Israel has gone up from a mere $120 million to $5 billion since the two nations formally established relations in 1992, but as president of the Israel-India Friendship Association (IIFA) she sees a much higher potential.

"I want to show the beauty of India to the world," says Bernstein-Reich, who serves as co-producer of the "Bharati Show - The Wonder that is India", a Bollywood style show that has gone all around the world over the last several years.

She also runs a five-session course on doing business with India with a Hindi class and bits of history, politics and culture thrown in.

There Israeli business people learn to say phrases like "Kya haal hai?" (How are you?), "Phir milenge" (See you later), the meaning of things like "Diwali, Ganesh and Bindi" and even the Indian craze about the game of cricket.

"Once they understand culture they can do business," Bernstein-Reich tells a group of visiting Indian and Indian-American journalists and policy leaders as she lists a wide range of areas that can take Israeli-Indian trade to a projected $15 billion in a few years.

Dan Catarivas, director of the division of foreign trade and international relations at the Manufacturers Association of Israel and a former government official, agrees seeing "much more potential" in the India-Israel-US trade relationship, particularly in the area of high technology.

Noting that Israel was in the process of negotiating a Free Trade Agreement with India, Catarivas said while transfer of technology to China was fraught with risks because of US restrictions, there was no such danger in working with India in hi-tech and IT areas.

Eitan Yudilevich, executive director of the Israel-US Binational Industrial Research and Development Foundation (BIRD), which promotes strategic partnerships between Israeli and American companies in various technological fields, concurs.

Yudilevich, a former head of the missiles division at Rafael Advanced Defence systems, the Israeli authority for development of weapons and military technology, who played a key role in the development of Israel's famous Iron dome, suggests the Singapore model for hi-tech trade with India.

This would have military cooperation spilling over or providing a spin-off in civilian areas, he says, noting that the Israelis were keen on going to India, shopping for partners there as long as the Americans don't mind.

Currently India is the largest customer of Israeli military equipment and Israel is the second-largest military partner of India after the Russian Federation. The military business between the two nations is worth around $9 billion.

Diamonds are another area of major trade between the two nations, but there is great scope for expansion in areas of agriculture, solar energy, energy, water treatment, desalination, clean technology and much more.

The only problem is their business culture, says Bernstein-Reich. While Israelis come straight to the point, Indians like to negotiate endlessly and reopen settled issues, she says and thus advises her clients: "Leave some room for bargaining."




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Agencies
July 19,2020

New Delhi, Jul 19: Indian equities will be driven by a host of factors like corporate earnings, coronavirus cases trend and geo-political developments this week, according to analysts.

Market participants will also keenly watch the progress of monsoon, with experts saying that the farm sector revival will play a key role in lifting the coronavirus-hit economy.

"With no major event, the ongoing earnings season and global cues will continue to dictate the market trend. Besides, the progress of monsoon will also be closely watched," Ajit Mishra, VP - Research, Religare Broking, said.

Globally, the rising coronavirus infections and geo-political tensions have created uncertainty on the economic recovery front.

With India's COVID-19 cases fast approaching the 11 lakh mark, the third-highest behind the US and Brazil, and the death toll nearing 27,000, participants are expected to tread cautiously going forward.

At global level, confirmed COVID-19 cases have crossed 1.4 crore and deaths totalled about 6 lakh.

Markets globally will closely follow developments on the trade and political level between the US and China, according to analysts.

"We would continue witnessing stock-specific action as the earnings season unfold. Though the near-term momentum looks positive, we would advise traders to be cautious, given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns in parts of the country," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

HDFC Bank will remain in focus on Monday after having announced its June quarter earnings on Saturday.

The lender reported 19.6 per cent rise in its standalone net profit at Rs 6,658.62 crore for April-June 2020; while its income rose to Rs 34,453.28 crore during the quarter.

Other major companies to announce their quarterly results this week are Axis Bank, Bajaj Finance, Hindustan Unilever Limited, Bajaj Auto and ITC.

"Going ahead market participants will closely track the development related to covid vaccine, the rising infection of coronavirus, development on economic activities, corporate earnings and US-China relationship," said Sumeet Bagadia, Executive Director, Choice Broking.

On weekly basis, the Sensex gathered 425.81 points or 1.16 per cent, and the Nifty gained 133.65 points or 1.24 per cent.

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News Network
May 6,2020

Hyderabad, May 6: Away from city lights, two hours before Sunrise, people in India and across the world can witness Annual Meteor Shower called Eta Aquarids till May 28.

Observed since time immemorial, Meteor shower are commonly known as shooting stars which are nothing but dust flakes of comet/asteroid entering earth atmosphere.

This Annual Eta Aquarids Meteor Shower peaked on Wednesday at 02.30 am on Wednesday whereas presence of Full Moon was an obstacle outshining bright streaks of lights of this meteor shower zipping across the South Eastern sky.

As this meteor shower is active till May 28, people can still watch this celestial spectacle in early morning every day, Planetary Society of India (PSI) Director N Sri Raghunandan Kumar interacting with UNI said.

As per International Meteor Organization (IMO), 50 meteors per hour are expected to be seen on day of peak today. And this number would vary as days pass on till May 28 while earth passes through dust cloud of comet debris in its orbit.

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News Network
March 18,2020

San Francisco, Mar 18: Facebook said a bug in its anti-spam system temporarily blocked the publication of links to news stories about the coronavirus. Guy Rosen, Facebook's vice president of integrity, said on Twitter Tuesday that the company was working on a fix for the problem.

Users complained that links to news stories about school closings and other information related to the virus outbreak were blocked by the company's automated system.

Later on Tuesday, Rosen tweeted that Facebook had restored all the incorrectly deleted posts, which also covered topics beyond the coronavirus.

Rosen said the problems were unrelated to any changes in Facebook's content-moderator workforce. The company reportedly sent its human moderators home this week because of the coronavirus outbreak.

A representative for Facebook did not immediately respond to questions on the status of Facebook's content moderators, many of whom do not work directly for the company and are not always able to work from home.

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