FTA could boost India-Israel trade to USD10-15 billion: Envoy | SupportBiz

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FTA could boost India-Israel trade to USD10-15 billion: Envoy

 
Bilateral trade between India and Israel can go up to USD15 billion after the two countries are expected to sign a free trade agreement (FTA) by the year end, an Israeli envoy has said.

"In 1992, the volume of trade between Israel and India was USD180 million. In 2011, it was about USD5 billion. We are expecting the FTAto be signed by the end of 2012, and then, the volume of trade can go up to USD10-15 billion," Israel's Ambassador Alon Ushpiz told reporters.

Describing the current relationship between India and Israel as a 'chair with three legs', Ushpiz said that his country wanted to convert it to a 'sofa with six legs', which would be more 'stable'.

He said that Israel was interested in investing in sectors like advanced technology in water, particularly re-usage of sewage water and desalination of water.

"We are exploring opportunities to co-operate in West Bengal's water and agricultural sectors," he added.