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Israel Keen to Better Trade with India
Jan 27, 2015

Buoyed by India’s prospects for greater economic growth, Israel’s Minister for Economy Naftali Bennett has said that his Government is looking to further strengthen trade and technological ties between the two countries.

  • Israel thinks that India is an economy that is looking at one of the best futures in the world.

  • Israel is keen, not just on trading goods and services, but also on collaborating with India to develop new technologies together.

  • Bennet has been closely involved in Israel’s negotiations with India over a free trade agreement.

  • Bilateral trade between India and Israel, which stood at $ 6 billion in 2013, could easily double once the agreement is signed.

  • This FTA has been in the works since 2010 and the next round of negotiations is to be held soon. One of the reasons why the FTA has been stuck is because India has little incentive to sign the deal.

  • From Israeli side everything is open but if one has to export to India, he has to pay taxes.

  • Most of Israeli export is in the hi-tech arena, there have been questions from the Indian side over how much of its sophisticated technology Israel is willing to make available.

  • According to Israel there are no limits on what we share with India. Everything is open.

  • Israeli would like to welcome greater imports from India.

  • Currently, diamonds and a few other precious metals make up the vast majority of India’s exports to Israel.

  • Israel is importing a lot from China and competition in the manufacturing side from India will be of great advantage to Israel.

  • The changes in import-export patters will have to be carefully mapped over time but also made clear that there is ample scope for India to ramp up its exports to Israel, which will be beneficial to both countries.


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