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"We believe that the trade agreement that would benefit the two countries, India and Israel, will be signed towards the end of this year. It is in the final stages of its finalisation," Bangalore-based Israel's Consul for Trade and Economic Affairs Avi Friedman said in Mysore today.
Speaking to Business Standard, after addressing a press briefing at the Mysore Chamber of Commerce & Industry, he said there were a lot of issues on the table and the signing of the BTA would result in an increased bilateral trade, smoother tax, relocation of employees, training services and, tariff issues. "We forsee a better and brighter trade relations."
"Presently, India is a big trade partner with Israel in civil and defence areas. From a base of $180 million, our bilateral trade with India has increased to $5 billion. This is a huge leap. It is growing further in both the civil and defence areas. The BTA will give a further push to our mutual co-operation," he said.
Friedman said, Israel was giving knowledge support for the establishment of centres of excellence in India. Of the 28 centres, 20 had already been set up and the remaining eight would come up over the year. The centres, being established in co-operation with the Ministries of Foreign Affairs and Agriculture, are financed and managed by India. On Israel's part, it will offer knowledge support for bringing its innovative knowledge to India so that it can be adapted to Indian conditions.
While briefing reporters, the trade section head highlighted his country's knowledge strength and advancement in innovation and technology in areas like agriculture, water, dairying, fish, alternative energy and ICQ, first developed and popularised by an Israeli company.
"India produces unique crops like mango and rice. We have the knowledge and technology to improve these crops. We have organic agriculture A to Z, including protection of crops against pesticides. So also we have technology in respect of drip irrigation and water management that would offer solutions for saving water which India has started facing now," Friedman said, adding Israel's knowledge and technology can benefit India immensely.
Federation of Karnataka Chambers of Commerce and Industry District Co-ordination Committee Chairman Sudhakar S Shetty said a 13-member delegation from MCCI will visit Israel from May 19 to May 25 for a study tour. The team comprised of entrepreneurs and representative of agro, automobile and education areas from Mysore, Chamarajanagar and Mandya. They would also attend the 1st Innovation Conference at Tel Aviv also.
