CII signed an agreement with Israel’s High Tech Industry Association (HTIA)

The Confederation of Indian Industry and Israel’s High Tech Industries Association (HTIA) will work to establish a network that would bring investors and entrepreneurs close and expand trade
 
 
The Confederation of Indian Industry (CII) and Israel’s High Tech Industries Association (HTIA) signed last week an agreement to bring Israeli technology and innovation to India.
 
In a statement released by the CII it noted: “Joint initiatives under the agreement will include yearly conferences in both the countries and promotion of cross border mergers and acquisitions,” it added that “The two sides will also work to establish a network that would bring investors and entrepreneurs closer and allow Indian companies to penetrate Israeli markets,”
 
According to a study, India’s relatively low manufacturing costs and proximity to the expanding east Asian economies offers growth opportunities to Israeli firms. For India, Israel can be a source of high-technology products as well as a base for exports to Europe and the US with which Israel has a free trade agreement.
 
Starting at US$200 million annually when diplomatic relations were established in 1992, trade between Israel and India ballooned to US$4.7 billion mark last year when India vaulted into second place among Israel’s export markets. This does not include defense sales which are reportedly over US$1 billion annually.