India-Israel trade to touch $2 billion

Friday, 09 July 2004, 19:30 IST
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NEW DELHI: Trade between India and Israel, which has been soaring, is expected to touch the $2 billion mark this year. According to the Israeli embassy here, two-way trade grew at a rate of 40 percent in the first quarter of this year compared to the same period in 2003, and was expected to touch $2 billion by the end of the year. At $1.6 billion, bilateral trade registered a 25 percent growth last year compared to 2002. "Both countries evenly share the balance of trade," the embassy said in a statement Thursday. It said the embassy, in association with Telecom Equipment Manufacturers Association (TEMA), organised a function here this week to honour 120 Indian businessmen for their contribution to the promotion of India-Israel trade. Ambassador David Danieli presented the awards, the statement said.
Source: IANS
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