Israeli Firms Offered Aid to Open Up in India

Tel Aviv: If you are an Israeli diamond company that has been considering opening up branches in one of both of the two most populous countries in the world, the conditions for you doing so have just ripened, according to the Israel Diamond Exchange (IDE). The Israel-Asia Chamber of Commerce announced that Israel’s Economy Ministry is willing to partially fund Israeli initiatives to set up offices in China and India.

The Ministry has issued a tender for Israeli firms looking to establish a foothold in China and India and the companies which are accepted will be reimbursed for a full 50% of their operating expenses for a period of three years. If these firms manage to boost their sales figures in China and India, they will be required to pay out royalties on these. The Economy Ministry will weigh the requests of the first 20 firms it receives proper applications from, the Israel Diamond Exchange reports.