Funding for India-Palestine Techno Park released
Recently the Indian Representative to Palestine, Sunil Kumar released the third tranche of funding for the construction of India-Palestine techno park in Palestine. India had committed to invest 12 million USD as a part of capacity building in Palestine. India currently pays 3 million USD on half yearly basis
The Techno Park
The park will create knowledge-based technology clusters and creative enterprises to operate locally, globally and regionally. The main objective of the park is to create an environment that supports process of industrialization and commercialization. The park also aims at bridging the gap between the academia and private sector.
India is the first non-Arab country to recognize Palestine Liberation Organization as the legitimate representative of the Palestinians in 1974. In 1988, India again was the first country to recognize an independent Palestine. The trade between the countries is roughly 40 million USD and spans medical tourism, spare parts, textiles, pharmaceuticals and agro-chemicals.