The Government of the Republic of India and the Government of the State of Israel have signed a Bilateral Investment Agreement in New Delhi. The agreement was signed by Finance and Corporate Affairs Minister Nirmala Sitharaman and Finance Minister of Israel, Bezalel Smotrich.
The agreement is expected to provide greater certainty and protection for investors, facilitating trade and mutual investments by ensuring a minimum standard of treatment and an independent dispute resolution mechanism through arbitration. The agreement also includes provisions to safeguard investments against expropriation, ensure transparency, and enable smooth transfers and compensation for losses.
During the signing, Sitharaman highlighted India’s economic reforms and expressed condolences over the loss of innocent lives in a recent terrorist attack in Israel. She noted the shared civilizational ethos and common challenges both countries face, including terrorism.
Smotrich spoke about the strong common background of the two countries in achieving high economic growth despite security challenges. He emphasized the need for greater collaboration in cybersecurity, defense, innovation, and high-technology sectors. The two ministers affirmed their commitment to advancing economic cooperation in fintech innovation, infrastructure development, financial regulation, and digital payment connectivity. They agreed to enhance and protect investments on a reciprocal basis. Smotrich also extended an invitation to Sitharaman to visit Israel.
