The proposed free trade agreement (FTA) between India and Israel would boost trade and economic ties, Ambassador of Israel to India Mark Sofer said today.
He said that Israel would be the first country with which India will have a one-to-one FTA. Post FTA, the trade volume is expected to triple to $12 billion.
The present level of trade volume between the two countries was four billion dollars, without including the defence part, Sofer said.
Trade was evenly balanced between exports and imports, Sofer said speaking at the Bengal National Chamber of Commerce and Industry here.
Sofer said that Israel was the world leader in drip irrigation technology, IT, supercomputers, medical equipment and solar power. He said that trade between India and Israel was complementary in nature.