India and Palestine on 31 October 2016 signed a Memorandum of Understanding for setting up of Palestine-India Techo Park in Ramallah. India has announced grant of 12 million US dollars for setting up the Park. Palestinian side has made the land available for the project.The announcement of the Techno Park was made during President Pranab Mukherjee's visit to Palestine in 2015.
Highlights of the Techno Park:
The Technopark will served as an IT hub in Palestine with complete IT faculties offering a one-stop solution to all IT-related service requirements.
It will also provide state-of-the-art technology, host IT companies and foreign companies benefiting local business, universities and other institutions.The assistance is part of India’s strong commitment to support Palestinian cause. The project will help job creation, business and other opportunities for young Palestinians.