Israel keen on free trade pact with India

On going efforts to sign an Free Trade Agreement (FTA) between Indian and Israel would lead to a change in the composition of trade between the two countries and bring focus into new sectors such as information and technology (IT), agriculture and biotechnology, Mr Alon Ushpiz, Ambassador of Israel in India, said here on Tuesday.The FTA would ensure a higher volume of trade for both the countries, Mr Ushpiz said at an interactive session, organised by the Indian Chamber of Commerce. Currently the volume of bilateral trade between the two countries stood at $5 billion (Rs 22,500 crore) and is expected to exceed $12 billion (Rs 54,000 crore) in another five years following the FTA.