Representatives of India’s 15 largest high-tech companies will visit Israel at the end of the week as guests of the Israel Export Institute and the Indian Embassy in Israel. The Export Institute predicts that Israeli high-tech exports to India will grow 20% to $120 million this year, Israel Export and International Cooperation Institute director Yechiel Assia said yesterday.
The Indian delegation will meet with representatives of Israeli companies, including Comverse Technology(Nasdaq:CMVT), AudioCodes (Nasdaq: AUDC), Alvarion (Nasdaq: ALVR), and MRV Communications (Nasdaq: MRVC). They will also meet with representatives of venture capital funds, such as Apax Partners (Israel), Vertex Management Israel, Deloitte and Touche, and Jerusalem Venture Partners (JVP).
Kishor Chaukar, chairman of the CII Telecom Council and managing director of Tata Industries, one of India’s largest corporations, with an annual turnover of $10 billion, is leading the Indian delegation.
Among the Indian companies participating are cellular companies Spice Communications and BPL, land-based communications company Tata Teleservices, and Internet company Net4India.
Israel Export Institute deputy director general and high-tech division director Yair Ofek predicted that Israeli high-tech exports to India would grow 20% to $120 million this year, compared with last year, and include exports by 100 Israeli companies.
Ofek added that India is considered an emerging communications market, with an information technology industry-wide turnover of over $10 billion in 2002. The Indian market therefore has a huge potential for Israeli exports.
A reciprocal delegation of Israeli communications companies is due to visit India in November.
Published by Globes [online] -l www.globes.co.il - on July 3, 2003