Diamonds and Gems 75 Percent of India-Israel Trade
October 18, 04 by Edahn Golan
Trade between India and Israel stood at $1.04 billion during the first half of 2004, most of which in diamonds. India imports diamonds, gems, machinery and tools from Israel, and exports diamonds, gems, chemicals, and textiles.
India’s imports from Israel grew by 57 percent to $494 million worth of goods during the period, diamonds and gems making up 76 percent of it. Exports increased 30 percent to $547 million, of which 73 percent were diamonds and gems.
The Israeli Ministry of Industry, Trade & Employment says today it wants to strengthen commercial ties with India, putting an increased emphasis on hi-tech and biotechnology, strong industries in both countries.
In the past decade trade between the two countries grew from $200 million annually to over $1.5 billion.
