India and Israel on January 15, 2018, signed 9 agreements, including in the area of oil and gas, following delegation-level talks headed by Prime Ministers Narendra Modi and Benjamin Netanyahu.
Israeli PM Benjamin Netanyahu's 6-day visit to India is a historic occasion because he is only the 2nd Israeli leader to come to India since Ariel Sharon's 2003 trip. Netanyahu is accompanied by a 130-member delegation.
A MoU was signed between the Ministry of Petroleum and Natural Gas and Israel's Ministry of Energy in oil and gas sector, that will promote, inter alia, collaboration in the upstream sectors, research and development in future technologies and start-ups in oil and gas..
The state-run Indian Oil Corp. signed letters of intent with Israel's Phinergy for cooperation on making metal-air batteries, and with Yeda Research and Development Co. to collaborate on concentrated solar thermal technologies.
Israel will invest $68.6 million to boost cooperation with India in different areas like technology and innovation over a period of 4 years.
