Business delegation from India's Gujarat state look to tap Israeli investors

Gujarat's government is expected to invest some US$220 billion over the next decade to develop infrastructure, water resources, solar energy, natural sciences and security
 
A business delegation from Gujarat, the fastest growing economy in India, has recently appealed to the Israeli business community to partner with the Indian state, bringing out its relative strength as an investment friendly destination.
 
Speaking at a seminar attended by senior executives of leading Israeli companies, the leader of the 11-member Gujarat delegation, Mukesh Kumar, the managing director of iNDEXTb (Industrial Extension Bureau), presented the major achievements of the statein various sectors.
 
Mr. Mukesh Kumar was calling upon Israeli businesses to participate in the Fifth Vibrant Gujarat Global Summit to be held on 12-13 January, 2011, to identify scope of partnership. Kumar noted that Gujarat's government is expected to invest some US$220 billion over the next decade to develop infrastructure, water resources, solar energy, natural sciences and security.
 
Kumar told Israeli businessmen that: "While our national economy is growing at 7.2%, Gujarat's annual rate of growth has been consistently in excess of 10%. "The progressive steps taken by the state to maintain its leadership position is reflected in all the important sectors".
 
The most prominent delegates in the delegation were: Mr. Dinesh ShahManaging Director Ibi Chematur (engineering & Consultancy) Ltd. Mr. Jayanti Patel, Chairman of Meghmani Organics Limited, Dr. Rajiv I. Modi, Managing Director, Cadila Pharmaceuticals & Dr. Geeta Patel. Cadila Pharma. Kishor Virani, Chairman, KARP Group of Companies, Mr. Sodahi managing director of GCMMF Limited - Gujarat Cooperative Milk Marketing Federation (GCMMF) is India's largest food products marketing organization.
 
Sujit Ghosh, first secretary at the Indian embassy in Tel Aviv, highlighted the remarkable progress made by the two sides in enhancing bilateral trade, which is likely to hit the $5 billion mark in 2010 as per available trend.
 
India has leaped to become Israel's second largest export destination, only next to close ally the US, as Israel focuses at tapping potential in the Asian markets.
 
As per the figures provided by Israel's Export and International Cooperation Institute, India jumped from the eighth position to second as the favoured destination for Israeli exports in the first half of 2010.