India, Palestine ink MoU for setting up of Techno Park in Ramallah

India has signed a Memorandum of Understanding (MoU) with Palestine for setting up of Palestine-India Techno Park at Ramallah in Palestine.

The decision to set up Techno Park was taken during the visit of President Pranab Mukherjee to Palestine in October 2015.

Key Facts

  • The Technopark will be set up with an Indian grant of $12 million as part of India’s strong commitment to Palestinian cause.
  • It will serve as an IT hub in Palestine with complete IT facilities offering a one-stop solution to all IT-related service requirements.
  • It will also provide state-of-the-art technology, host IT companies and foreign companies benefiting local business, universities and other institutions.
  • The project will help job creation, business and other opportunities for young Palestinians.