Business Guide | Israel-India 2022

The author is Partner, Business Advisory Services, at ASA Corporate Catalyst (India) Pvt. Ltd. Photos courtesy ASA Corporate Catalyst (India) Pvt. Ltd. Potential areas for Investments: ●● Improvement in digital access to quality education ●● Skilling initiatives and productivity enhancement aids ●● High quality E-content technologies ●● Start-ups in new age technology, teaching and delivery of education ●● Skill development 4. Health India remains a nation of growing middle-class, new diseases and health consciousness are boosting demand for health service and support, including insurance. The medical tourism market is expanding. Indian healthcare infrastructure is estimated to be over USD 350 billion presently and is expected to reach USD 11 billion in next 5 years. Potential areas for Investments: ●● Clinical Trials, Diagnostic Services ●● Research and Development Laboratories ●● Healthcare Start-ups, Digital clinics, online medicine ●● Public Health Initiatives 5. Defense The Government is committed to reducing imports and promoting localisation of defense procurements for the Armed Forces. For fiscal year 2022 - 23 , 68 per cent of the capital procurement budget has been earmarked for domestic Indian companies ( 58 % in 2021 - 22 ). Further, several policy measures under “Make in India” program have reformed the defense equipment procurement and to encourage indigenous design, development, and manufacture of defense equipment in the country, such as: ●● FDI limits have been enhanced to 74 % (under automatic route) ●● Innovations for Defense Excellence (iDEX) scheme ●● Public Procurement (Preference to Make in India) Order 2017 ●● Industrial licensing process streamlined ●● Indigenization portal (named SRIJAN) to facilitate indigenisation ●● Establishment of Defense Industrial Corridors ●● Make in India policy Potential areas for Investments: ●● Defense Start-ups ●● Technological assistance in Defense manufacturing ●● Local manufacture of Defense-manufacturingequipment ●● Defense R&D opened to industry, start-up and academia ●● Design and development of military platforms and equipment ●● Testing and certification requirements 6. Other Sectors ●● Solar power infrastructure ●● Green Energy, and Clean Mobility Systems ●● Artificial Intelligence ●● Geospatial Systems, Space Economy, Drone technology ●● Semiconductor and its eco-system ●● Genomics and Pharmaceuticals ●● Fully integrated manufacturing units from polysilicon to solar PV modules ●● Data Centres ●● Energy Storage Systems The Government’s vision is to create a multiplier effect by encouraging important sunrise sectors and new age tech-based opportunities and involve private sector in setting up an adequate ecosystem. The focussed areas are determined by analysing the gapswithin the economy and requirements of future and therefore are challenging as well as full of potential. 29

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