India, Israel sign pacts on double taxation avoidance and cultural exchange

India and Israel have signed agreements on double taxation avoidance and cultural exchange. President Pranab Mukherjee, who is in Jerusalem on the final leg of his tri-nation tour to West Asia, held a meeting with his Israeli counterpart Reuven Rivlin yesterday after which the agreements were signed. 

The pact on tax avoidance will help plug loopholes in tax evasion and ensure that the Indian or Israeli companies are taxed only where they have permanent establishments. Mr Mukherjee also invited Israeli entrepreneurs to invest in India.

Mr



Mukherjee also addressed the Israeli Parliament, the Knesset yesterday. Referring to the Make in India programme, he said that Israeli innovation and technology can combine with Indian engineering and scale to manufacture in India. The President thanked Israel for supporting India's bid for permanent seat in United Nations Security Council. 

Today, Mr Mukherjee will be honored with a doctorate at the Hebrew University. Israeli Prime Minister Benjamin Netanyahu will host a Lunch for the Indian President before he concluding his visit.