"India and Israel need to find a way to create more meeting places where ideas can be exchanged and collaborations forged for greater cooperation between the two countries," Makov said while addressing an Indo-Israel Innovation Colloquium organised by CII here.
Makov is the first Israeli chairperson of a major Indian company and is among the Western Asian country's most respected corporate leaders.
Also present at the event, Bharti Enterprises Managing Director Manoj Kohli said Israel holds a unique place in the world.
"They live in crisis all the time, they have fantastic courage, and have the bent of mind to innovate," he said.
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"There is also great interest in the area of solar energy that our Prime Minister Narendra Modi has been talking about," he added.
The Israeli Consul General in Mumbai, David Akov, said, "India and Israel are open societies and democracies which add to the chaos, but which also make for dynamic societies."
Pointing out that IIT-Bombay and Tel Aviv University had established an undergraduate exchange programme, S Ramadorai, Co-Chair of the Colloquium, said, "Indian firms are moving up the value chain and should tap vibrant innovation ecosystem of Israel.