Israel Signs Technology Deal With India.

Israel and India have signed a deal that will allow both countries to cooperate in advanced technology, UPI reported Monday. The memorandum of understanding will also likely increase Israel’s defense sales to the country.

The Jerusalem Post called the deal between Isreal’s High-Tech Industry Association and the Confederation of Indian Industry a meeting of “Israel’s innovative prowess with India’s huge and talented pool of human resources.”

The two states are united in their ongoing conflict with Islamist terror groups, and trade between them hit $47 billion in 2010. A large part of these assets include defense sales from Israel to India, who is looking for a widespread upgrade of its armed forces. Much of the technology sold included combat aircraft and naval equipment.

And now, UPI reports that missiles will likely be a key product in the aftermath of the high-tech deal.

Israel and India are also discussing an agreement to remove trade barriers, UPI reported. This is especially important for what the news agency called the “export-heavy economy” of Israel. The country’s focus on exporting new and competitive software led to $29 billion in worldwide exports.

And in the Indian state of Andhra Pradesh, software centers are growing just as quickly. Sofware exports there totaled $8 billion in 2010.

Source : thirdage.com