Israel and India mark $5 billion in trade and prepare to sign free trade agreement
20 years after Israel and India established diplomatic relations in 1992, Indian External Affairs Minister S.M. Krishna will visit Israel for meetings on security-related and economic issues with Prime Minister Netanyahu and President Shimon Peres, among others. Another purpose of the visit is the signing of a free trade agreement between the two nations. The volume of trade between the two countries reached a record $5 billion last year, and is expected to triple following the signing of the agreement.
Israeli and Indian companies are cooperating in a variety of fields, including: security, agriculture, technology, cleantech, real estate, pharmaceutics, telecom, and more. Notably, there is extensive agriculture business done between the two nations, as well as tourism (India is a top destination for Israeli tourists, with 40-50,000 Israelis visiting per year), and growing cultural interest.