Under the agreement, both countries will aim to spend $1 mln in 2017 for mutual research projects as well as joint initiatives for young scientists. The agreement was signed during the visit of Israeli Science Minister Ofir Akunis'. His visit signaled a rapid follow up of Israeli President's Reuven Rivlin trip to India last month.
Both sides agreed to give boost to the bilateral cooperation in science and technology under the aegis of the S&T Agreement concluded between India and Israel in 1993.
As a follow-up to the India-Israel Joint Science & Technology Committee meeting held in Jerusalem earlier this year, the two ministers agreed to step up the collaboration in the next two years by providing $1 million from each side to support new research and technology (R&D) projects in the cutting edge areas of ‘Big Data Analytics in Health Care' and Security in Cyber Space'.
Both India and Israel have implemented several cutting edge research projects in applied areas covering agricultural and medical biotechnology, human genomics, advanced materials & nanotechnology, imaging sensor & robotics, solar energy, communication & IT and lasers & electro-optics.
It was also agreed to consider special initiatives to support women in science and technology through new joint programmes in this area.
Meanwhile, Israel Space Agency (ISA) is keen to collaborate with the Indian Space Research Organization (ISRO) in technologies relating to earth observation, communication and rocket propulsion.
"We have specific areas in which we'd like to collaborate with ISRO. I'm hopeful that something serious will emerge after more meetings," Avi Blasberger, director, ISA told local media after a meeting with his ISRO counterpart on Tuesday.