The Israel Export Institute on Monday urged the Israeli industry and trade ministry to adopt a plan that would increase exports by $3 billion by the end of 2004.

The plan features suggestions for doubling exports to the key markets of India, China and Russia and encouraging sectors that have the potential for strong growth, such as medical equipment, biotechnology, pharmaceuticals and chemicals.

The institute said in a statement the plan would also create 50,000 jobs at a time when Israeli unemployment is above 10 per cent and predicted to hit 12 per cent this year.