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Commercial and Economic Relations
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Brand “Made in India” enjoys wide popularity in Palestine. Bilateral Trade between India and Palestine is channelized through Israel and comprehensive trade statistics are not available.  Limited data suggests that India-Palestine bilateral trade stands at around US$ 40 million. Almost all of the bilateral trade are imports from India and trade balance is in India’s favour. In terms of sectors, medical tourism, agro-products, textiles, fabrics, yarns, readymade garments, household appliances, stationery products, leather and leather products, agro-chemicals, plastic products, sanitary wares, marble and granites, pharmaceuticals, spare parts for automobiles,  and engineering goods have vast scope in Palestine. Apart from trade in goods, there is vast scope for trade in services. India’s strength in IT and IT enabled services; consultancy etc. is widely acknowledged in Palestine. TCIL and Satyam Computers had undertaken two major telecom software projects in Nablus for Palestinian Telecommunications Company (PALTEL).  M/s Goldstone Infotech Limited from Hyderabad had partnered World Trade Centre of Gaza to establish the first Indo-Palestinian Joint Venture in the Karni Industrial Zone in the Gaza Strip in the field of Software Training and Consultancy.

In 1997, an MOU between India and Palestine was signed, which provides for promoting scientific, technical and industrial cooperation including provision of training facilities in specialized areas and undertaking of mutually agreed projects. In February 2010 during the visit of Dr.Hasan Abu Libdeh, Minister of National Economy of Palestine, an MOU for cooperation was signed between the Federation of Palestinian Chamber of Commerce, Industry & Agriculture (FPCCIA) and Federation of Indian Chamber of Commerce and Industry (FICCI).

 
 
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