Global tech giants in Israel eye India for relocation amid escalating Israel-Hamas conflict: Report
Global tech companies in Israel may relocate to India or other regions amid the Israel-Hamas conflict, as per a report.
Amid the escalating Israel-Hamas conflict, there is a possibility that global technology companies operating in Israel could potentially relocate their business operations to India or other regions like the Middle East or Eastern Europe, as stated in a report by the Economic Times.
The report, which references insights from industry experts, suggests that these businesses might consider moving to areas with comparable time zones and access to skilled talent if the conflict continues to intensify.
Reportedly, Israel is host to more than 500 global companies, including prominent names such as Microsoft, Intel, and Google. Additionally, Indian enterprises like Wipro and TCS have a presence in the country. Collectively, these companies provide employment opportunities for a substantial workforce of at least 100,000 individuals.
High-tech industries, which have consistently shown rapid growth in Israel, may encounter substantial disruptions due to the shift towards a war preparedness by the Israeli military, which might encompass a potential full-scale invasion of the Gaza Strip. This information is based on a report by Reuters, as per insights from investors and analysts.
The spokesperson representing Intel, the largest private employer and exporter in Israel, stated on Monday that they are vigilantly observing the situation in Israel and implementing measures to protect and assist their workforce, reported Hindustan Times.
To recall, the conflict between Israel and Hamas has reached its sixth day on Thursday and is anticipated to intensify. As per the most recent updates, the total casualties on both sides have surpassed 2,300 individuals, and there are thousands of displaced people as a result of the ongoing conflict.
During a late-night televised speech, Israeli Prime Minister Benjamin Netanyahu made a resolute commitment to swiftly dismantle Hamas. He described witnessing distressing scenes, including the tragic killing of young individuals, both male and female, who had been bound and shot in the head. He also mentioned instances of individuals being burned alive, young women subjected to heinous acts, and soldiers who had been beheaded.
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Business NewsCompaniesGlobal tech giants in Israel eye India for relocation amid escalating Israel-Hamas conflict: Report
First Published:12 Oct 2023, 12:46 PM IST
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