New Delhi, Nov. 24 -- The Global Trade Research Initiative (GTRI) on Monday asserted that the real value of the renewed Free Trade Agreement (FTA) push lies in strategic cooperation rather than merchandise trade.

GTRI added that even with a free trade agreement, India and Israel are unlikely to witness a sharp rise in goods trade due to structural limitations in market size and demand.

The note added, "For both countries, therefore, the value of the renewed FTA effort lies less in merchandise trade and more in strategic cooperation.

"Even with an FTA, the scale of goods trade is unlikely to grow sharply," the note further added.

Israel, a high-income and technology-driven economy with fewer than 10 million people, offers limited scope...