A multi-fold increase in the trade and between India and Israel and greater bilateral co-operation in agriculture, irrigation, water management, electronics, telecommunications, software development, and hi-tech medical equipment are on the cards, according to Meir Eshet, counsellor (economic), Embassy of Israel, New Delhi.
Speaking at a seminar on trade and investment opportunities with Israel, organised by the Exim Club, here recently, Meir Eshet said the two countries had entered into various agreements with the view to increase trade, avoid double taxation, protect investments and promote industrial research and development.
The trade between India and Israel, which opened up in 1991-92 had increased by over 50 per cent each year, he said, adding at present the combined trade was about us 560 million, with major part of the trade (representing over 60 per cent) being in diamonds.
He said agricultural inputs exported by Israel to India constituted 19.8 per cent of exports to India adding Indias textile exports to Israel had been increasing.
Eshet said the yield per hectare in Israel was more than twice that of India in the case of tomatoes, potatoes, onions, cabbage, apples and bananas.
However, Indian farmers, who were working under much better conditions with respect to soil fertility, climate and water availability, could increase the per hectare yield by better resource management, he said, adding there was considerable scope for collaborations and transfer of technology between the two countries in this matter.
At present there were many joint ventures in the field of software, electronics, medical equipment, telecom, chemicals and agriculture, he said, adding Israeli economy being relatively free of state controls and Israeli currency being fully convertible offered better scope for trade relations between the two countries.
Speaking on the topic of tourism, Mike Steinmann, general manager of Ei Al Airlines said the resorts around the dead sea were proving to be very attractive tourist destinations in Israel.
Outlining his countrys plan to promote tourism between Israel and India he said more Israeli businessmen were interested in joint ventures in India, than ever before.
Earlier, T N C Rajagopalan, president of Exim Club, stressed the need for Indian businessmen to focus on emerging markets and exploit the untapped potential.
Rajagopalan urged businessmen to identify new opportunities coming from abroad especially Europe and the US and exploit them.
