The Indo-Israel trade touched USD 6 billion during 2012-13, according to a senior diplomat of the West Asian country.
In an interactive session with at Federation of Andhra Pradesh Chambers of Commerce and Industry, Jonathan Ben Zaken, Attach - Economic and Commercial Affairs, Embassy of Israel said that bilateral relations between India and Israel have strengthened significantly in recent years.
The bilateral trade which was at USD 200 million in 1992, the trade diversified and reached USD 5.15 billion in 2011 and USD 6 billion in 2012-13, Zaken said.
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, he said.
According to the diplomat, Israeli industry is keen to take advantage of synergies with India in areas like water Technologies, infotech and sectors where Israel is strong.
Ken Uday Sagar, President, Indo Israel Chambers of Commerce and Industry said after the successful visit of the Ambassador of Israel to Hyderabad during last month, Israeli companies have been sending large number of teams seeking opportunities.
Srinivas Ayyadevara, President, FAPCCI said that the both Israel and India especially Andhra Pradesh offer substantial opportunities and could co-operate with each other in the field of agriculture, food-processing, biotech, aerospace and other similar sectors, by adopting the latest technology.
Early implementation of the proposed free trade agreement between India and Israel will boost bilateral trade multi-fold, Ayyadevara said.