Tech companies in Israel may shift operations to India if war escalates
As the Israel-Hamas intensifies, global technology companies in Israel may shift their business operations to India or other locations such as the Middle East. Businesses may reportedly shift to locations with similar time zones and talent capabilities. There are over 500 global companies in Israel including - Microsoft, Intel, and Google, while Indian firms such as Wipro and TCS also have businesses there.
These companies employ at least over 100,000 people.
While the high-tech industries have been the fastest growing sector in Israel. However, they are likely to face massive disruptions as the Israeli military shifts to a war footing that may include a full-scale invasion of the Gaza Strip.
According to the spokesperson for chipmaker Intel, which happens to be Israel's largest private employer and exporter, said that they are "closely monitoring the situation in Israel and taking steps to safeguard and support our workers."
Notably, Intel's shares fell 0.5 per cent on Monday, two days after the Hamas militants killed hundreds of Israelis and abducted an unknown number of others in a surprise attack.
The war between Israel and Hamas entered its sixth day on Thursday and is further expected to escalate.
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