MUMBAI: India's engineering exports to Israel have gone up by about 640%, that is more than seven times in April 2017 on an annualised basis, data released by EEPC India showed.
The sharp jump in exports came just ahead of Prime Minister Narendra Modi's impending visit to Israel in July. EEPC is the trade and investment promotion organization under the government's Ministry of Commerce & Industry.
"As against engineering exports of about $20 million in April 2016, the shipments of these goods have gone up to $146.42 million in April this fiscal," a release from EEPC India said.
"Moreover, Israel ranks at 12th position among India's engineering export destination and has figured prominently among the top 25 destinations," the release said. Bulk of the engineering exports to Israel for April were listed under the group titled ' Ships, boats, floating structures and parts', which brought in about $122 million, it noted.
T S Bhasin, chairman, EEPC said that the Indian engineering industry can enhance its level of engagement with Israel in a number of high-tech areas like defence production, steel, automobile and auto components, aircraft components and ship-building and ship boats. "We need to diversify our export basket to Israel and would be working towards that end," Bhasin said.
Source: timesofindia.indiatimes.com