Israel-India Bilateral Trade Expected To Triple To $15 Billion

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  1. JStone
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    NEW DELHI: Bilateral trade between India and Israel is likely to grow to $15 billion from the present $5 billion if the two sides agree to sign a Free Trade Agreement (FTA), Israeli Ambassador to India Alon Ushpiz said here Wednesday.

    Israel is in the process of setting up seven centres of excellence in Haryana, Punjab, Rajasthan, Gujarat, Maharashtra, Karnataka and Tamil Nadu, which will facilitate the transfer of cutting edge agricultural technologies to Indian farmers, an IDSA release said.

    Tourism is also a growing aspect of bilateral relationship. Last year, nearly 40,000 Indians visited Israel. India has been a favourite tourist destination, especially for Israeli youth. In 2010, nearly 50,000 Israeli tourists had come to India.

    During 2002-07, India bought $5 billion worth of defence equipment from Israel, whose investments in India have grown to $3 billion, it said.

    After the establishment of diplomatic relations between the two countries in 1992, bilateral trade has grown to about $5 billion annually (non-defence civilian trade).

    With the proposed FTA in the pipeline, this is expected to more than double in the near future. Total defence trade is worth more than $9 billion.
    FTA will bolster India-Israel trade: Envoy - Economic Times
     
  2. Mr. H.
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    Bilateral?
    More like bisexual. :lol:
     
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