5.4. Trade

♤ From US$ 200 million in 1992 (comprising primarily trade in diamonds), bilateral merchandise reached US$ 5.19 billion in 2011. Since then, it has, however, stagnated around US$ 4 - 4.5 billion with bilateral trade (excluding defence) for 2015 being US$ 4.14 billion.

♤ Though trade in diamonds constitutes more than half of bilateral trade, trade has diversified in recent years to include sectors such as pharmaceuticals, agriculture, IT etc.

♤ Major exports from India to Israel include diamonds and metals, chemical products and textiles. Major imports by India from Israel also include diamonds and metals, chemicals (mainly potash) and machinery and transport equipment. Though reliable figures of services are unavailable, it is estimated that almost 75% of bilateral trade in services flow from India to Israel.