TEL AVIV, Israel--(BUSINESS WIRE)--The state of Gujarat in India is organizing a one day Vibrant Gujarat Road Show in Tel Aviv as part of its delegation visit to Israel. The road show is aimed to strengthen economic and social ties between the two countries and to promote Vibrant Gujarat Global Summit 2017.
With the theme of "Gujarat - Connecting India to World," the road show will feature various activities involving leading Israeli companies, Industry Associations and government officials, strengthening the cause of development and promote cooperation between Israel and the State of Gujarat, India. The delegates will also discuss investor-friendly policies, perfect economic ecosystem and single window clearance procedures that Gujarat offers, making it one of the most sought after investment destinations globally. Gujarat was ranked number 1 in “Ease of Doing Business” in 2015 amongst all states of India, in a joint study by the Government of India and World Bank. The road show will take place on August 1 at Dan Panorama, Tel Aviv starting from 9:00 AM.
Leader of the delegation, Mrs. Mamta Verma, Industries Commissioner, Government of Gujarat, said, “Our delegation’s objective is to strengthen relationship between Israel and India where Gujarat will play an important part by offering avenues across various sectors to further enhance business relationships between the two countries. With some mega projects planned in the state of Gujarat, Israel’s expertise in areas like defense, aerospace, start-ups, technology and textiles to name a few can play a significant role.”
There are over 300 Israeli investments in India mainly in high-tech and agriculture. The majority of them are in diamonds, agriculture, chemicals, ICT, pharmaceuticals, water technologies, homeland security and real estate. Israel has the largest number of startup firms per capita of any country and in association with Gujarat based startups, Israel can avail benefits of the State Startup Scheme as well as the recent Government of India’s Startup Scheme. Gujarat has announced its first-ever 'IT and Electronics Startup Policy,' with a special focus on encouraging startups by allotting around 10 lakh sq. ft. of land for development of 50 incubators to mentor and guide 2,000 startups in the next five years.
With a scheme to set up new R&D institutions and labs, Gujarat is also looking forward to steer public and private sector investments in defense design, security, development and manufacturing with 10% value of orders over next five years.
Gujarat is offering an attractive package of financial support and incentives for agro industrial projects to reputed companies with proven technical capability and track record to successfully conceive and implement agro industrial projects. State government will offer 6% per annum back ended interest subsidy for first 5 years to agro industrial units from commencement of operations.
Gujarat has also announced a policy of mega and innovative industries for automotive sector, which are required to fulfill the condition of investing in fixed assets exceeding INR 1,000 crore and providing jobs to 2,000 people. The eligible industries get benefits of sales tax incentives for 10 years.
All these factors will assist and benefit investors in strengthening their business propositions and investments in India via Gujarat.
The flagship event, Vibrant Gujarat Global Summit will enter its 8th edition - organized from 10-13 January 2017 at Mahatma Mandir, Gandhinagar, Gujarat, India.
