Following a visit by Indian last month by IT Minister Kapil Sibal the Press Trust of India reports that the two countries, who are looking to strengthen economic and social ties in general, have agreed to a joint-venture to develop fifth generation, better known as 5G, telecommunication technologies.

The versions of technology 2G, 3G and the like, are labelled on the basis of Internet speed they offer on mobile devices.

The agreement was made between Sibal and Israeli Minister of Communications Gilad Erdan, who both agreed that both the countries can cooperate on exploring the possibilities of standard formulation, development and manufacturing in the area of 4G and 5G telecom technologies.

“Israel has technology and innovation, India has the capital and market. The two areas which emerge out of discussion related to telecom were reducing roaming charges between India and Israel and exploring the possibilities of standard formulation, research and development, and manufacturing in the area of 4G and 5G,” an Indian Department of Telecommunications official said.

Currently the Indian public is using 2 and 3G networks with a privileged few working with 4G tech. While no country has introduced 5G technologies a number of countries have claimed to have developed and tested it. Those companies claim the 5G tech will be ready for public consumption by the year 2020.

Technology experts believe 5G technology will enable people to have a fiber network like user experience on a wireless connection. It can provide speed of 10 Gigabit per second Internet speed, which is 100 times faster than the mobile technology used these days.

This joint-venture continues to prove Israel’s tremendous reputation among the technologies world. In fact, on Friday, Google announced the price it purchased the Israeli mobile GPS application, Waze, for. The internet giants disclosed that they acquired the Israeli start-up for a whopping $966 million.

(Information for this article provided by Press Trust of India)