The bilateral trade between Israel and India, which was at USD 200 million in 1992, diversified and reached USD 5.15 billion in 2011 and USD 6 billion in 2012-13.
Several new areas of cooperation have been identified by the two countries, including agriculture, farm research, science, public health, information technology, telecom, and co-operation in space.
Israeli industry is keen to take advantage of synergies with India in areas like water Technologies, infotech and sectors where Israel is strong. Jonathan Ben Zaken, Attache - Economic and Commercial Affairs, Embassy of Israel said recently that bilateral relations between India and Israel have strengthened significantly in recent years. He was participating in an interactive session at the Federation of Andhra Pradesh Chambers of Commerce and Industry.
Israel''s Ambassador to India Alon Ushpiz told reporters last week that early implementation of the proposed free trade agreement between India and Israel will boost bilateral trade multi-fold, up by billion dollars. The FTA would lead to two other significant advantages of promoting interaction between the private sector of the two countries and also enable the workforce of both the nations to work together to "invent, produce and market" things together in areas that are not traditionally covered,.