Israel and India ink bilateral investment and trade deal in New Delhi

Israel and India signed a bilateral agreement to facilitate mutual investment flows and encourage economic cooperation and trade between the two countries.

The bilateral investment treaty (BIT) was signed in New Delhi in the presence of Finance Minister Bezalel Smotrich and his Indian counterpart Nirmala Sitharaman to bolster investor confidence and support smoother financial interactions between the two nations.

“This is a strategic step that will open new doors for both Israeli and Indian investors, strengthen Israeli exports, and provide businesses on both sides with certainty and tools to develop in the world’s fastest-growing markets,” said Smotrich. “India is a growing economic power, and cooperation with it is a tremendous opportunity for Israel.”

Israel hailed the agreement as the first of its kind that India has signed with a Western-oriented economy among the countries in the Organisation for Economic Co-operation and Development (OECD). Last year, India signed similar agreements with the United Arab Emirates (UAE) and Uzbekistan.

Smotrich is leading a government delegation that departed for India on Sunday night to promote economic collaboration between the two nations. The delegation includes the ministry’s chief economist, Shmuel Abramzon, Accountant General Yali Rothenberg, and Director-General Ilan Rom. Other key officials include Israel Securities Authority Chairman Seffy Singer.