Trade with India: Export Institute submitted plans to develop trade

Mr. Shraga Brosh chairman of The Israel Export and International Cooperation Institute had submitted to the government a $1.2 million plan for developing markets in India. The marketing plan was submitted to the Minister of Industry, Trade, and Labor Mr. Ehud Olmert and Minister of Finance Mr. Benjamin Netanyahu.
 
According to the plan the government will allocate $500,000, and exporters will pay the balance. In a press release, the Export Institute chairman Mr. Shraga Brosh said that Israeli exports to India could increase by 70% over the next four years, from $293 million in 2004 to $500 million in 2008.
 
The plan was submitted on the eve of the departure of an Israeli trade delegation to India headed by Olmert and Netanyahu which begins tomorrow. Mr. Brosh predicted that the high level visit to India would generate deals amounting to $40-55 million over the next three years.
 
Companies taking part in the delegation include Israel Aircraft Industries, the RAFAEL Armament Development Authority Ltd, Israel Military Industries, the Elul Group, ZAG Industries, Plastro Irrigation Systems, ECI Telecom, Comverse Technology, RAD Data Communications and Elron Electronic Industries.
 
Brosh said that the plan included recommendation that infrastructure aid should be provided to several sectors. i.e. high-tech, security companies and communications, seeking to operate in India, with the aim to set up strategic partnerships with foreign international entities active in financing investments in India.
 
According to Brosh the plan would succeed only if a team of expert advisers in communications, security, agro-technology, and environmental technologies should be assembled to carry out the task.
 
Brosh added that The Israel Export and International Cooperation Institute planed to set up an Israeli trade center in the city of Mumbai (formerly Bombay) in the near future.