On the second day of Prime Minister Narendra Modi’s visit to Israel, it was agreed to implement UPI in Israel and soon finalize the Free Trade Agreement (FTA). It was announced to increase cooperation on forums like agriculture, technology, investment and IMEC-I2U2.
New Delhi. Today (26 February) is the second day of PM Modi’s visit to Israel. Many important agreements were signed between the two countries on Thursday. The biggest decision among these is that now India’s UPI payment system will be implemented in Israel also. This consensus was reached in the bilateral meeting between PM Modi and Israeli Prime Minister Benjamin Netanyahu.
Agreement on implementing UPI payment system in Israel
In the joint press conference, PM Modi said that a new direction has been given to digital payment cooperation between the two countries. The implementation of UPI system in Israel will provide a lot of convenience to Indian tourists, businessmen and investors. Modi described it as the global expansion of India’s digital power.
India-Israel Free Trade Agreement (FTA) soon
During the press conference, PM Modi said that India will soon finalize a Free Trade Agreement (FTA) with Israel. He said that this agreement will give new impetus to trade and investment of both the countries. Modi said that it is a matter of pride for him to visit Israel and the relations between the two countries are continuously strengthening.
Establishment of India-Israel Academic Forum
PM Modi said that connecting the youth, researchers and innovators of both the countries is a big priority. In this direction, India-Israel Academic Forum is being established, which will increase cooperation in education and research. Modi said that regional and global issues were also discussed. Both countries agreed to advance IMEC (India-Middle East-Europe Economic Corridor) and I2U2 (India-Israel-UAE-USA grouping). This will strengthen regional connectivity and economic cooperation.
Technical cooperation in agriculture sector
PM Modi said that Israel’s advanced agricultural technology will reach the villages of India, which will increase both the income and production of farmers. Both the countries will together develop new solutions for future farming. The establishment of the India-Israel Innovation Center for Agriculture in India will further strengthen this cooperation.
Investment, Technology and Emerging Sectors
Modi said that economic cooperation has become a strong basis for development and innovation. Last year, a bilateral investment agreement was signed between the two countries. He informed that the FTA will be finalized soon. Under technology partnership, cooperation will be increased in areas like AI, quantum technology and critical minerals.
Tribute at Yad Vashem: Salute to the Holocaust victims
On the second morning, PM Modi reached the Holocaust Memorial Yad Vashem in Jerusalem. Here he paid tribute to the six million Jews killed during the Nazi regime. After this PM Modi met Israeli President Isaac Herzog. A bilateral meeting took place between the two leaders. President Herzog said that India’s economy is growing rapidly and attracting the attention of the world. PM Modi also invited him to visit India.
Knesset speech and highest honor
PM Modi reached Israel on Wednesday on a two-day visit. Prime Minister Netanyahu and his wife Sara welcomed him at the airport. After this Modi addressed the Israeli Parliament Knesset. He was awarded the ‘Speaker of the Knesset Medal’, Parliament’s highest honour. He became the first Indian Prime Minister to address the Knesset.