Eyeing collaboration with Israeli startups, says Goyal

India and Israeli startups can collaborate in areas such as cybersecurity and medical devices to boost the innovation ecosystem, 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 technology and innovation collaboration.

“We can collaborate with Israel to promote our own startup ecosystem, which we are aspiring to take it to the levels of deep tech and high quality innovation at competitive prices, given the economies of scale that India has to offer,” Goyal told reporters here.

The minister is in Tel Aviv to hold bilateral trade talks with his Israeli counterpart, Nir Barkat. Goyal is leading a 60-member business delegation here.

A proposed free trade agreement between Israel and India would open up significant business opportunities for industries in both countries and boost bilateral trade and investment flows, Israeli Economy and Industry Minister Nir Barkat said. He added that both counties had decided not to include sensitive areas in the

FTA negotiations.