The Indian government to reduce bureaucracy and the time taken to grant clearances for various processes, protect intellectual property and curb regulatory and policy uncertainties
Business and industry captains from Israel unanimously agree that India is a big market and bilateral trade between the nations can surge to $5.3 billion by mid-2019 from the present $4.5 billion. However, they made a strong case for the Indian government to reduce bureaucracy and the time taken to grant clearances for various processes, protect intellectual property and curb regulatory and policy uncertainties. Dany Eschchar, Aeronautics Deputy CEO (marketing & sales), said that his company is quite keen on associating with Indian states to produce an unmanned aerial vehicle, aero start, defence solutions, border protection and protection of strategic facilities. This apart, he said his company will likely bag projects being developed by the Indian Airforce and Navy.
At the same time, the business leaders revealed to DNA the prevalent misconception among Israeli companies that believe Indians would steal their IP, and that it takes a long time to work in India.
"Starting a business in India is a long process and projects are often cancelled mid-way without any reason. India should open the door to medium-sized companies that allow better prices instead of only going for the lowest bidder. Besides, the government needs to address issues relating to policy and regulatory uncertainty on priority basis."
—Dany Eschchar, Aeronautics Deputy CEO (marketing & sales)
"Decision making here is quite time-consuming and needs to be curtailed as Israeli companies want quick decisions. Besides, there should be an alignment of expectations. Both parties should look at the long-term since we are coming from different parts of the world and ways of thinking. Therefore, I tell Israeli companies not to impose any product on India, instead create a sustainable partnership taking into account the needs of locals."
—Anat Bernstein Reich, President, Israel India Friendship Association
"Heavy bureaucracy and the lack of transparency in some cases are the two critical issues faced by Israeli companies in India. Bureaucracy makes matters more complicated and cumbersome. Our companies do face problems in the time taken to complete various processes. Israelis are impatient but Indians are very patient people. This is a major cultural gap."
—Dan Catarivas, director general, Manufacturers' Association of Israel
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