Figures published last week by the Economics & Professional Services unit of the Israel Export and International Cooperation Institute,(IEICI), Israeli exports to India totaled US$370 million in the first quarter of 2015, double the exports in the corresponding quarter last year.
IEICI economists, who analyzed the figures, said that Israeli exports to India had risen in all sectors, including telecommunications equipment, measuring and control equipment, industrial equipment, etc.
The IEICI added that this rise indicated improvement in the economic situation in India, now rated as Israel's sixth largest export destination, compared with 15th place in the first quarter of 2014. Shauli Katznelson IEICI Deputy Director General for Economics & Professional Services noted that "Since the increase is common to all sectors, not focused in a single sector, the impression is gained that India is recovering in accordance with the forecasts that India's economic growth in 2015 and 2016 will be faster than China's."
Israeli exports to the US totaled $2.9 billion, up 13% in the first quarter, compared with the corresponding quarter in 2014, led by the pharmaceutical sector, in which exports rose 47%, compared with the corresponding quarter last year, with exports of goods in other sectors also posting increases.