Israel, India look past defense to broaden commercial ties

Israeli Prime Minister Benjamin Netanyahu (R) greets his Indian counterpart Narendra Modi during a meeting with Indian community in the Israeli coastal city of Tel Aviv, on July 5, 2017. Prime Minister Narendra Modi arrived in Israel for what he called a "groundbreaking" first ever visit by an Indian premier, with growing ties between the two countries including billion of dollars in defence deals. (AFP)
Updated 06 July 2017
Follow

Israel, India look past defense to broaden commercial ties

TEL AVIV: In the months leading up to Indian Prime Minister Narendra Modi’s historic visit to Israel, India signed two arms deals, spending $2.6 billion on Israeli missile defense systems.
Yet since Modi arrived on Tuesday, military ties — for decades the secretive bedrock of India-Israel relations — have taken a back seat. The governments have instead spent time discussing companies that sell medical devices, hi-tech and water systems.
Rather than making the visit, the first by a sitting Indian prime minister, all about the value of deals signed, Israel’s Prime Minister Benjamin Netanyahu and Modi appear intent on playing up shared culture and values, in the hope this will give commercial ties deeper roots.
Under Arab pressure, India kept its distance from Israel for decades but is now seeing advantages in a complementary relationship with Israel. There is interest on both sides in building a broad economic base, rather than merely a contractual exchange based around defense.
The timing reflects a diplomatic shift toward Israel being more accepted in the region. Modi, who is acutely conscious of the need to adopt innovation and new technology to update India’s infrastructure has always had a personal affinity for Israel and came to learn more about the country before he became premier.
“India and Israel are walking hand in hand into the future as partners,” Modi and Netanyahu wrote in a joint editorial this week. “From start-ups to space, communications to cybernetics, Israel’s technological capabilities are merging with India’s.”
The two men are spending 48 hours together with Modi, accompanied by Indian business leaders, getting a political and business tour that covers Israeli history, culture and innovation, as well as the signing of economic agreements.
HOPES FOR MORE DEALS
“What’s it going to take to get Israeli money to take India seriously? Just open their eyes,” Jon Medved, CEO of Israeli equity crowdfunding group OurCrowd said. “The problem is their eyes are ... blinded by the China opportunity,” he added.
There have only been a handful of Indian investments in Israel over the past decade, as opposed to the $16.5 billion received from China in 2016 alone.
OurCrowd just closed three deals with India, joining with Reliance Industries for a hi-tech incubator that helps to grow young companies in Jerusalem, bringing Israeli technology to India with Reliance Capital, and collaborating with India’s Lets Venture to invest in start-ups.
During Modi’s visit, Zebra Medical Vision, a company from a kibbutz near Tel Aviv, and Bangalore-based Teleradiology Solutions will sign a partnership to use analytics in 150 health-care centers.
Looking to reorient Israel’s economy toward Asia, Netanyahu hopes more deals will follow, setting a goal of increasing exports to India by 25 percent in the next four years. But it may take a while before the Modi-Netanyahu relationship sparks a serious expansion in investment and trade, both of which remain relatively negligible.
In many respects export-dependent Israel and India, which is focused on supplying its huge population, are complementary.
Israel is a global leader in water and food systems, two critical fields India needs to upgrade. India wants to strengthen its manufacturing base and is looking to do so with technologies coming from Israel. Both countries host major diamond trading and polishing hubs.

DIAMOND TRADE SPARKLES
Israeli exports to India last year totalled $1.15 billion, excluding diamonds, just 2.5 percent of total exports. Bilateral trade was less than $2 billion, which jumped to $4.13 billion including diamonds. Israel’s foreign direct investment in India totals only $100 million.
“It’s nothing, it’s a blip. Why hasn’t the relationship grown to the level it should have?” said A. Didar Singh, secretary general of the Federation of Indian Chambers of Commerce.
Singh said more needed to be done to ease regulations, lower non-tariff barriers and solve licensing problems.
Incentives and lifting of red tape could help overcome what diplomats, lobbyists and business owners say is a cultural divide between the breakneck pace of Israel’s start-up scene and India’s more gradual approach.
It can take time to cement negotiations in India, where building trust and a relationship is paramount, said Elias Ghosalkar, a former investment banker from Mumbai who is director of corporate development for OurCrowd after moving to Israel last year.
“Israelis on the other hand are quite direct and lack patience in their business approach,” he told Reuters.
Israel’s ambassador to India, Daniel Carmon, said it is becoming easier to do business between the two countries, even if there may remain some differences in practice.
“It could be that the Israeli businessman arrives on a Monday flight and wants to return on Thursday with a deal in hand. I say to him ‘forget it’. It’s not going to happen. There are processes, the processes take time, not four days,” he said. 


Iran ‘categorically’ denies envoy’s meeting with Musk

Updated 16 November 2024
Follow

Iran ‘categorically’ denies envoy’s meeting with Musk

TEHRAN: Iran’s foreign ministry spokesman on Saturday “categorically” denied The New York Times report on Tehran’s ambassador to the United Nations meeting with US tech billionaire Elon Musk, state media reported.
In an interview with state news agency IRNA, spokesman Esmaeil Baghaei was reported as “categorically denying such a meeting” and expressing “surprise at the coverage of the American media in this regard.”
The Times reported on Friday that Musk, who is a close ally of President-elect Donald Trump, met earlier this week with Iran’s ambassador to the UN, Amir Saeid Iravani.
It cited anonymous Iranian sources describing the encounter as “positive.”
Iranian newspapers, particularly those aligned with the reformist party that supports President Masoud Pezeshkian, largely described the meeting in positive terms before Baghaei’s statement.
In the weeks leading up to Trump’s re-election, Iranian officials have signalled a willingness to resolve issues with the West.
Iran and the United Stated cut diplomatic ties shortly after the 1979 Islamic revolution that toppled the US-backed shah of Iran, Mohammed Reza Pahlavi.
Since then, both countries have communicated through the Swiss embassy in Tehran and the Sultanate of Oman.


Indian private university opens first international campus in Dubai

Updated 16 November 2024
Follow

Indian private university opens first international campus in Dubai

  • Indian FM inaugurated the Dubai campus of Symbiosis International University on Thursday
  • Under national education policy, New Delhi wants to internationalize Indian education system

New Delhi: A private Indian university has opened its first international campus in Dubai this week, marking a growing education cooperation between New Delhi and Abu Dhabi. 

Symbiosis International University is a private higher education institution based in the western Indian city of Pune with at least five other campuses operating across the country, offering undergraduate, postgraduate and doctorate-level programs. 

It is considered one of the top private business schools in the South Asian country, ranking 13th in management in the Indian Ministry of Education’s National Institutional Ranking Framework. 

SIU’s Dubai campus, which will offer management, technology and media and communications courses, was officially inaugurated on Thursday by Indian Foreign Minister S. Jaishankar and Sheikh Nahyan bin Mubarak, the UAE minister of tolerance and coexistence. 

“I am sure that this campus will foster greater collaboration and research linkages between scholars of India and UAE, for mutual prosperity and global good,” Jaishankar said during the ceremony. 

“(The) ceremony is not just an inauguration of a new campus; it is a celebration of the growing educational cooperation between our two countries. Right now, Indian curriculum and learning is being imparted through more than 100 International Indian Schools in UAE, benefitting more than 300,000 students.”

Under India’s National Education Policy 2020, New Delhi aims to internationalize the Indian education system, including by establishing campuses abroad. 

Another top Indian school, the Indian Institute of Technology-Delhi, began its first undergraduate courses in September, after starting its teaching program in January with a master’s course in energy transition and sustainability. 

Initially launched in September with more than 100 students, the SIU Dubai Campus is the first Indian university in Dubai to start operations with full accreditation and licensing from the UAE’s top education authorities, including the Ministry of Education. 

“A university setting up a campus abroad is not just a bold step, but a concrete commitment to the goal of globalizing India. They certainly render an educational service, but even more, connect us to the world by strengthening our living bridges,” Jaishankar added as he addressed the students. 

Dr. Vidya Yeravdekar, pro-chancellor of Symbiosis International University, said that the school’s establishment in Dubai was in line with the UAE’s education goals. 

“Internationalization is central to the UAE’s educational vision,” Yeravdekar said on Friday. 

“By opening our campus in Dubai, we are creating a gateway for students from around the world to engage in a truly global academic experience, where they can benefit from international faculty, real-world industry collaborations, and a curriculum that meets the needs of a changing world.”


Russia captures two villages in eastern Ukraine, defense ministry says, according to agencies

Updated 16 November 2024
Follow

Russia captures two villages in eastern Ukraine, defense ministry says, according to agencies

MOSCOW: Russian forces have captured the villages of Makarivka and Leninskoye in Ukraine’s Donetsk region, Russian news agencies reported on Saturday, citing the Russian Defense Ministry.


UN climate chief asks G20 leaders for boost as finance talks lag

Updated 16 November 2024
Follow

UN climate chief asks G20 leaders for boost as finance talks lag

  • Negotiators at the COP29 conference in Baku struggle in their negotiations for a deal intended to scale up money to address the worsening impacts of global warming

BAKU: The UN’s climate chief called on leaders of the world’s biggest economies on Saturday to send a signal of support for global climate finance efforts when they meet in Rio de Janeiro next week. The plea, made in a letter to G20 leaders from UN Framework Convention on Climate Change Executive Secretary Simon Stiell, comes as negotiators at the COP29 conference in Baku struggle in their negotiations for a deal intended to scale up money to address the worsening impacts of global warming.
“Next week’s summit must send crystal clear global signals,” Stiell said in the letter.
He said the signal should support an increase in grants and loans, along with debt relief, so vulnerable countries “are not hamstrung by debt servicing costs that make bolder climate actions all but impossible.”
Business leaders echoed Stiell’s plea, saying they were concerned about the “lack of progress and focus in Baku.”
“We call on governments, led by the G20, to meet the moment and deliver the policies for an accelerated shift from fossil fuels to a clean energy future, to unlock the essential private sector investment needed,” said a coalition of business groups, including the We Mean Business Coalition, United Nations Global Compact and the Brazilian Council for Sustainable Development, in a separate letter.
Success at this year’s UN climate summit hinges on whether countries can agree on a new finance target for richer countries, development lenders and the private sector to deliver each year. Developing countries need at least $1 trillion annually by the end of the decade to cope with climate change, economists told the UN talks.
But negotiators have made slow progress midway through the two-week conference. A draft text of the deal, which earlier this week was 33-pages long and comprised of dozens of wide-ranging options, had been pared down to 25 pages as of Saturday.
Sweden’s climate envoy, Mattias Frumerie, said the finance negotiations had not yet cracked the toughest issues: how big the target should be, or which countries should pay.
“The divisions we saw coming into the meeting are still there, which leaves quite a lot of work for ministers next week,” he said.
European negotiators have said large oil-producing nations including Saudi Arabia are also blocking discussions on how to take forward last year’s COP28 summit deal to transition the world away from fossil fuels.
Saudi Arabia’s government did not immediately respond to a request for comment. Progress on this issue has been dire so far, one European negotiator said.
Uganda’s energy minister, Ruth Nankabirwa, said her country’s priority was to leave COP29 with a deal on affordable financing for clean energy projects.
“When you look around and you don’t have the money, then we keep wondering whether we will ever walk the journey of a real energy transition,” she said.


Protesters’ biggest day expected at UN climate talks, where progress is slow

Updated 16 November 2024
Follow

Protesters’ biggest day expected at UN climate talks, where progress is slow

  • Several experts have said $1 trillion a year or more is needed both to compensate for such damages and to pay for a clean-energy transition that most countries can’t afford on their own

BAKU: The United Nations climate talks neared the end of their first week on Saturday with negotiators still at work on how much wealthier nations will pay for developing countries to adapt to planetary warming. Meanwhile, activists planned actions on what is traditionally their biggest protest day during the two-week talks.
The demonstration in Baku, Azerbaijan is expected to be echoed at sites around the world in a global “day of action” for climate justice that’s become an annual event.
Negotiators at COP29, as the talks are known, will return to a hoped-for deal that might be worth hundreds of billions of dollars to poorer nations. Many are in the Global South and already suffering the costly impacts of weather disasters fueled by climate change. Several experts have said $1 trillion a year or more is needed both to compensate for such damages and to pay for a clean-energy transition that most countries can’t afford on their own.
Panama environment minister Juan Carlos Navarro told The Associated Press he is “not encouraged” by what he’s seeing at COP29 so far.
“What I see is a lot of talk and very little action,” he said, noting that Panama is among the group of countries least responsible for warming emissions but most vulnerable to the damage caused by climate change-fueled disasters. He added that financing was not a point of consensus at the COP16 biodiversity talks this year, which suggests to him that may be a sticking point at these talks as well.
“We must face these challenges with a true sense of urgency and sincerity,” he said. “We are dragging our feet as a planet.”
The talks came in for criticism on several fronts Friday. Two former top UN officials signed a letter that suggested the process needs to shift from negotiation to implementation. And others, including former US Vice President Al Gore, criticized the looming presence of the fossil fuel industry and fossil-fuel-reliant nations in the talks. One analysis found at least 1,770 people with fossil fuel ties on the attendees list for the Baku talks.
Progress may get a boost as many nations’ ministers, whose approval is necessary for whatever negotiators do, arrive in the second week.