Feb 5, 2021, 03:25 PM IST
Source: DNA India
Israeli’s top business chamber, the Federation of Israeli Chambers of Commerce (FICC) has extended strong support to a free trade agreement (FTA) with India.
Uriel Lynn, President of the Federation of Israeli Chambers of Commerce in response to a question by WION said, “You can export to Israel as much you can, as much you want…we would like to see a free trade agreement with India because our economy is based on free competition…. You don’t have to worry about Israel. We are not such a big country, you are a big country”.
FICC, more than 100 years old, was formed in 1919 and is the country’s largest business organization. “Many many Israeli countries would like to invest in India, you are a big market”, Uriel Lynn pointing out to sectors like agriculture, cyber, water resources where Israel has a strong footprint.
India is Israel’s third-largest trade partner in Asia and seventh largest globally. Bilateral trade has diversified into several sectors such as pharmaceuticals, agriculture, IT and telecom, and homeland security.
Even as high-level political engagement increased between the two countries, the focus is increasingly on business and investment. During PM Modi’s famous visit in July 2017, the first meeting of the newly established India-Israel CEOs Forum took place. The second meeting of the forum took place during PM Netanyahu’s visit to India.