Huge opportunities exist in sectors like agriculture and pharma for India and Israel to boost their bilateral trade, a top government official said today.
“Our (bilateral) trade is about USD 5 billion and that is really much less than either of us believe that it could really be in terms of potential and complementarities of both the economies,” Commerce Secretary Rita Teaotia said here. She was speaking at India-Israel Business Forum meeting organised by Ficci. She said that businesses of both the sides can look at collaborations in sectors like solar, agriculture, irrigation and pharmaceuticals.
Teaotia said India is growing at a healthy rate and the government is taking several steps to improve business climate, trade facilitation, logistics and taxation structures.
“Israel has huge strength in communications and the ‘Digital India’ effort offers huge opportunities.
We are looking at collaborations across all lines of the value chain and that starts from physical infrastructure reaching down to the last rural habitation, allowing large data transfers,” she said.