India will become a hub for Israeli exports to the Middle East once a free trade agreement is signed between the two countries, said Mr. A. Purushothamanthe CEO of the Ramat Gan branch of the State Bank of India, according to a report in the Jerusalem Post.
Work is now advancing on the Israel -India free trade agreement, scheduled for completion at the end of the year. Bilateral trade reached $5 billion last year, but this figure will rise significantly once the FTA is signed, said Mr. Eli Belotsercovsky
Director, Economic Relations with India & China, of the Israeli Embassy in India. Main sectors in which activity will intensify will likely include water, agriculture and homeland security.
The two countries create a good match, she said, because Israel is a leader in innovation,and India provides skill and high-quality manufacturing at low cost.
Speaking at a seminar on Israeli- Indian trade at Tel Aviv University, A. Purushothoman said India provided Israel with a gateway not only to Arab countries with which it has no direct relations, but also to large Asian markets such as Malaysia and Indonesia.
The seminar was hosted by the Israel-Asia Center, a non-profit organization dedicated to promoting cooperation between Israel and Asia, and Tel Aviv University’s Sofaer International MBA Program.
For the full Jerusalem Post article please click here.
For the event’s agenda click here.
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