Our ties with Israel are about mutual trust and friendship: PM Modi

Published By : Admin | July 5, 2017 | 22:38 IST
PM Modi interacts with Indian community in Israel, thanks PM Netanyahu for the warm reception
Though diplomatic relations between India & Israel are only 25 years old, yet our ties go back several centuries: PM Modi
India-Israel relationship based on shared traditions, culture, trust and friendship: PM
Science, innovation and research would be the foundation of ties between India and Israel in the future: PM Modi

The Prime Minister, Shri Narendra Modi, on Wednesday addressed the Indian Community in Israel, at a function in Tel Aviv.

He began by noting that this was the first time that an Indian Prime Minister had come to Israel, and it had taken a long period of 70 years after independence.

He thanked Israeli Prime Minister Benjamin Netanyahu for the warm welcome and respect accorded to him throughout his visit.

He said that though diplomatic relations between the two countries are only 25 years old, yet ties between India and Israel go back several centuries. He said that he has been told that in the 13th century, the Indian Sufi Saint Baba Farid had come to Jerusalem, and meditated in a cave.

The Prime Minister described the relationship between India and Israel as one of traditions, culture, trust and friendship. He noted the similarity in festivals between India and Israel. In this context, he mentioned Holi and Purim; and Diwali and Hanukkah.

The Prime Minister noted the impressive technological progress made by Israel, and its long traditions of bravery and martyrdom. He recalled that Indian soldiers had played a key role in the liberation of Haifa during the first world war. He noted the great contributions of the Indian Jewish community, both in India and Israel.

The Prime Minister praised the spirit of innovation in Israel, and noted that Israel had made great progress in areas such as geo-thermal power, solar panels, agro-biotechnology and security.

The Prime Minister gave an overview of reforms undertaken in India in the recent past. He mentioned the roll-out of GST, auctioning of natural resources, insurance and banking sector reforms, and skill development, among others. He said the Government aims to double income of farmers by 2022. He said the partnership with Israel is key to ushering the second green revolution in India. He said science, innovation and research would be the foundation of ties between India and Israel in the future.

He recalled his meeting with Moshe Holtzberg, survivor of the 26/11 Mumbai terror attacks, earlier in the day.

He assured the Indian community in Israel that OCI cards would be given to them, even if they had done compulsory army service in Israel. He said an Indian Cultural Centre would be set up in Israel. He also said direct air connectivity would soon be established between India and Israel.

Click here to read the full text speech

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Cabinet approves equity support to Small Industries Development Bank of India
January 21, 2026
Flow of credit to MSMEs will increase as SIDBI will be able to generate additional resources at competitive rates
Approximately 25.74 lakh new MSME beneficiaries will be added

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the equity support of Rs.5,000 crore to Small Industries Development Bank of India (SIDBI).

The equity capital of Rs.5000 crore shall be infused into SIDBI by the Department of Financial Services (DFS) in three tranches of Rs.3,000 crore in Financial year 2025-26 at the book value of Rs.568.65/- as on 31.03.2025 and Rs.1,000 crore each in Financial Year 2026-27 and Financial year 2027-28 at the book value as on 31st March of the respective previous financial year.

Impact:

Post equity capital infusion of Rs.5000 crore, number of MSMEs to be provided financial assistance is expected to increase from 76.26 lakh at the end of Financial Year 2025 to 102 lakhs (approximately 25.74 lakh new MSME beneficiaries will be added) by the end of Financial Year 2028. As per latest data (as on 30.09.2025) available from official website of M/o MSME, 30.16 crore employment is generated by 6.90 crore MSMEs (i.e. employment generation of 4.37 persons per MSME). Considering this average, employment generation is estimated to be 1.12 crore with the expected addition of 25.74 lakh new MSME beneficiaries by the end of Financial Year 2027-28.

Background:

With a focus on directed credit and anticipated growth in that portfolio over the next five years, the risk-weighted assets on SIDBI’s balance sheet are expected to rise significantly. This increase will necessitate higher capital to sustain the same level of Capital to Risk-weighted Assets Ratio (CRAR). The digital and digitally-enabled collateral-free credit products being developed by SIDBI, aimed at boosting credit flow, along with the venture debt being offered to start-ups, will further escalate the risk-weighted assets, requiring even more capital to meet healthy CRAR.

A healthy CRAR, well above the mandated level, is a key to protect credit rating. SIDBI will benefit from an infusion of additional share capital by maintaining a healthy CRAR. This infusion of additional capital would enable SIDBI to generate resources at fair interest rates, thereby increasing the flow of credit to Micro, Small & Medium Enterprises (MSMEs) at competitive cost. The proposed equity infusion in staggered or phased manner will enable SIDBI to maintain CRAR above 10.50% under high stress scenario and above 14.50% under Pillar 1 and Pillar 2 over next three years.