During January 2013 India and Israel will hold another round of negotiations for the proposed of establishing free trade agreement, a move which would increase bilateral commerce and investment between the countries.
Indian Commerce and Industry Minister Anand Sharma said in a written reply to the Rajya Sabha that "So far five rounds of negotiations have been held. The next round of negotiations is scheduled to be held from 20th to 23rd January, 2013".
The free trade agreement is aimed at liberalizing trade in goods and services, besides facilitating investments.
The bilateral trade between the nations stood at over US$6.61 billion in 2011-12.
Trade between the countries includes diamonds, chemicals, machinery, IT and agro-technologies.