Business Guide | Israel-India 2022

Venture Capital Funds in Israel Israel has hundreds of active venture capital funds operating throughout the country with USD 12 . 6 Bn under management. Israel's thriving venture capital industry has played an important role in funding the country's booming high-technology sector. The country is now teemingwith hundreds of prosperous Israeli private equity and venture capital firms looking to invest in the next potential million or billion dollar business startup. Israel's largest VCfirms include: Pitango, Vertex Ventures Israel, 83 North, JVP, Viola, Magma Venture Partners, Gemini Israel Ventures, Genesis Partners and others. The Banking System in India Thebanking systemof India consists of the central bank (Reserve Bank of India - RBI), commercial banks, cooperative banks anddevelopment banks. There are 12 public sector banks, 22 private sector banks, 46 foreign banks, 56 regional rural banks, 1485 urban cooperative banks and 96 , 000 rural cooperative banks in addition to cooperative credit institutions. The Legal System in India Historically and practically, India is a Union of 28 states and 8 Union Territories. As a consequence of 300 years of British rule (ended 1947 ), great portions of its laware based on English Common Law system. But India has also created a federal system; with a Central Government and a State Government. International sources of law (treaties, conventions etc.) can be enforced in the country, and Indian courts regularly rely on international legal principles. But If there is a conflict between a domestic law and an international law, the domestic law will prevail. Apart from the courts, the Indian judicial system is comprised of tribunals, commissions and quasi- judicial authorities, such as National and State Human Rights Commissions; National Company LawTribunal andNational Company LawAppellate Tribunal; Consumer Disputes Forums; Competition Commission; Ombudsman for banking, Insurance and Income tax; Income Tax Appellate Tribunal, and other quasi-judicial bodies. 9 largest Banks in Israel Bank Leumi Bank Hapoalim Mizrahi Tefahot Discount Bank First Intl Bank Of Israel (FIBI) Mercantile Discount Bank Bank Yahav for Government Employees Bank of Jerusalem Bank Massad Ltd (Source: DUN'S 100 ) 10 Largest banks in India, 2021 Rank HDFC Bank State Bank of India ICICI Bank Axis Bank Kotak Mahindra Bank IndusInd Bank Yes Bank Punjab National Bank Bank Of Baroda Bank Of India (Source: embibe) Incorporation Procedure in India When structuring an Entity, one needs to decide on the type of entity – a plain step that might earn considerable tax benefits later; the options are OPC, Private Limited, Partnership, LLP, Branch Office, Liaison Office, Project Office or Public Limited company. Most of the process is online and involves getting a digital signature. 2 directors and 2 shareholders are required (they may be the same person). Once the company is set In India an international bank account would be required to start doing business. Israeli Investments In India There are over 300 investments from Israel in India, mainly in the high-tech sector, but also in agriculture and consumer brands like soaps, coffee and chocolate: Investments that involve information exchange includingmainlymanufacturing plants; R&D centers; subsidiaries, etc. Israeli companies are engaged with sectors such as water tech, real estate, agriculture, chemicals, generic drugs, etc. Israel-India > Business Guide > 2022 46 > Business Services > Review