India, Israel to expand bilateral cooperation

Jerusalem, Jan 9 (ANI): India and Israel would be widening their area of interaction in the coming years by including various other sectors than the conventional ones in which they have been working in recent years.

Research and development would be the main sector in which both countries are interested.

Bilateral trade between India and Israel stood at $5.2 billion for 2010-2011 with exports at $3 billion and imports at $2.2 billion. According to available information, India's major exports to Israel include precious stones, metals, chemical products, textile and textile articles. India has been importing mineral products, base metals, machinery and transport related articles from Israel.

Indian Ambassador to Israel, Navtej Sarna, talking to Asian News International (ANI) said: " In a larger view we are in the business of making partnership with large number of countries which help us to actualize the potential of our people and enable us to grow at the rate we are growing or even faster. "

"Israel is a source of excellent technology for us and this will enable us to increase our industrial and agricultural productivity and break the technological barriers we have been facing," he added.

Israel is at cutting edge of Research and Development in advanced technologies in a wide range of fields such as telecom, software, biotechnology, medical electronics, agriculture and defense.

Experts opine that Israel now aiming to sell their expertise to the larger colonies and India interested in getting Israel expertise in various sectors.

"Though India's hi tech industries also growing very fast but there are certain many areas on which both would mutually benefited," said Sarna.

According to sources, after defense the major area is the precious stone that has occupied 40 percent of its share in trade between the two countries at the moment.

India and Israel established diplomatic relations 20 years ago.

Israel opened its Embassy in Delhi in February 1992 and India opened its Embassy in Tel Aviv in May 1992. Since then relations have seen rapid growth across a broad spectrum. By Ravinder Singh Robin (ANI)