.CHANDIGARH DCM13
Chandigarh, Aug 11 (PTI) Israel today said it would sign a bilateral economic agreement with India by the end of this year to further scientific and technical relations.
"The potential of Israel depends upon overseas market. Companies in Israel need to expand as the export market is still small. India is a fast growing economy which is undertsood by the business community of that country," Israeli ambassador David Danieli told reporters here.

"This is the right time to find niche in India in the business terms," he said, adding that Israel's IT delegation would visit India later this year.

Listing fruit as the major export of Israel, he said India was the second largest trading partner for the country to export fruit.

Noting that Israel's economy was driven by advanced technology, he said farmers need to diversify cropping pattern in India.

The water management is becoming science of tomorrow for many countries, he said adding that this need had been felt due to acute shortage of adequate drinking water in several countries.

"In Israel by 2010 no farmer will be allowed to use high quality water," he said. PTI