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: Three of the 10 most valued companies added a total of Rs 98,622.89 crore to their market valuation last week, led by stellar gains in IT major Infosys.

Seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms -- Reliance Industries Limited, Hindustan Unilever Limited and Infosys.

The market capitalisation of Infosys zoomed Rs 52,046.87 crore to Rs 3,85,027.58 crore. Shares of Infosys had rallied over 9 per cent on Thursday after the company posted a stronger-than-expected 12.4 per cent rise in the first quarter consolidated net profit.

Hindustan Unilever Limited added Rs 25,751.07 crore in its market valuation which stood at Rs 5,48,232.26 crore at close on Friday. Reliance Industries' m-cap jumped Rs 20,824.95 crore to Rs 12,11,682.08 crore.

In contrast, HDFC's valuation plunged Rs 13,920.21 crore to Rs 3,13,269.70 crore and that of Tata Consultancy Services (TCS) declined Rs 7,617.34 crore to Rs 8,26,031.21 crore.

The valuation of ICICI Bank tumbled Rs 4,205.71 crore to Rs 2,29,156.24 crore and that of Kotak Mahindra Bank by Rs 4,175.28 crore to Rs 2,62,864.37 crore.

Bharti Airtel's m-cap dipped Rs 4,009.83 crore to Rs 3,09,521.05 crore and HDFC Bank's by Rs 3,403.97 crore to Rs 6,03,463.97 crore.

The valuation of ITC declined by Rs 368.76 crore to Rs 2,38,469.29 crore.

In the ranking of top-10 firms, RIL was at the number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank.

During the last week, the 30-share BSE index advanced 425.81 points or 1.16 per cent.

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Agencies
January 20,2020

Washington D.C., Jan 20: An American bride asked for money from her invitees so that they can be on the 'exclusive guest list'.

Weddings can be surely expensive. But is it feasible for one to charge the guests to make up for the expenses?

According to Fox News, that is exactly what happened in a recent American wedding. A 19-year-old shared on Reddit that her cousin was getting married on Sunday and announced that she would charge 50 dollars to those who wanted to attend her wedding.

"She said that they can Venmo her money so there won't be no [sic] problems and everyone who paid will be added onto the 'exclusive guest list' which basically means you won't have to wait in line while other guests pay," wrote the user named DaintySheep.

While she refused to pay for entry into her cousin's wedding the bride-to-be contacted the elders in the family which ended up in an embarrassing situation.

"She wanted to get the money she spent on her special day back. I told her I wouldn't be able to come because this was outrageous and that I wish her well on her special day. She contacted my aunt and my aunt called me cheap and rude. My parents offered to pay for my entry, but I refused," continued the disheartened girl.

While in almost every nook and cranny of the world gifting the bride-groom with money is a tradition, asking for money from friends and family to replenish the money spent on a wedding is can be said to be a rare scenario.

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Agencies
June 29,2020

New Delhi, Jun 29: Witnessing azure skies and breathable air for the last three months, Delhi on Monday recorded deterioration in its air quality, with particulate matter with diameter of 2.5 and 10 microns -- too small to be filtered out of the human body -- standing at 52 and 297 micrograms per cubic respectively.

Gufran Beig, Project Director of System of Air Quality Weather Forecasting and Research (SAFAR), said that the sudden spike in air pollution is due to a mild dust storm blowing from Rajasthan.

"Since the wind direction is changing and moist air is coming in, the air quality in Delhi will become better by tomorrow," Beig told IANS.

Central Pollution Control Board (CPCB) data showed that the overall air quality near Delhi Technical University (DTU) area stood at 326 micrograms per cubic, followed by 308 at Narela and 307 at Mundka.

Out of 36 stations, the AQI in as many as 30 stations was above 200 micrograms per cubic till 1 pm on Monday.

The System of Air Quality Weather Forecasting and Research categorises air quality in the 0-50 range as good, 51-100 as satisfactory, 101-200 as moderate, 201-300 as poor, 301-400 as very poor, and above 400 as severe.

According to SAFAR's website, "PM 10 (coarser dust particle) is the lead pollutant. AQI is likely to improve to moderate category by tomorrow, and further improvement is expected by July 1."

Researchers indicated that PM 10 and PM 2.5 will be 170 and 47 micrograms per cubic on Tuesday.

With no vehicles plying on the roads or industries shut due to the lockdown since March 25, Delhi's air quality had improved drastically.

According to a study conducted by the Indian Institute of Technology (IIT), Delhi, if the low levels of air pollution reached during the lockdown period are maintained, India's annual death toll could reduce by 6.5 lakh.

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