New Delhi: Amidst the ongoing Israel-Hamas conflict, reports suggest that global technology companies operating in Israel are considering the possibility of relocating their business operations to India, the Middle East or Eastern Europe. The conflict has prompted concerns about business disruptions, leading to contemplation of moving to regions with similar time zones and access to skilled talent.
Israel currently hosts over 500 global companies, including tech giants like Microsoft, Intel, and Google. Indian companies such as Wipro and TCS also have a presence in Israel, collectively employing a substantial workforce of over 100,000 individuals.
The high-tech sector, which has shown consistent growth in Israel, may face significant disruptions due to the conflict’s impact on business operations. Investors and analysts are closely monitoring the situation, including the potential for a full-scale invasion of the Gaza Strip.
Intel, the largest private employer and exporter in Israel, is actively monitoring the situation and taking measures to protect and assist its workforce.
The ongoing conflict, now in its sixth day, has resulted in over 2,300 casualties on both sides and a large number of displaced individuals.
Israeli Prime Minister Benjamin Netanyahu has committed to swiftly dismantling Hamas during a recent televised speech. He described distressing scenes, including tragic killings and heinous acts committed during the conflict.
As the conflict intensifies, the technology industry in Israel faces uncertainty, prompting businesses to explore relocation options to ensure the continuity of their operations. Stay tuned for further developments in this rapidly evolving situation.