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PM Narendra Modi’s 3-day visit: India, Israel may create $40-million innovation fund

India and Israel are expected to sign an agreement to create a $40 million research and development fund for joint innovation in areas of agriculture, water, energy and technology during Prime Minister Narendra Modi’s three-day visit to the West Asian country starting Tuesday. 
The two countries will contribute $20 million, or about Rs 130 crore, each over five years to the fund called India-Israel Industrial R&D and Technological Innovation Fund, said a top official aware of the development. 

“This is going to be a good platform for both the countries to come together and is expected to be signed between Israel’s Innovation Authority and India’s department of science and technology during the PM’s visit,” said the official who requested anonymity. 

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