India and Israel are likely to sign a bilateral investment treaty through the upcoming go to of Israeli Finance Minister Bezalel Smotrich this week, whereas laying the groundwork for a free commerce settlement (FTA) to enhance commerce between the 2 nations, in accordance to sources.
Mr. Smotrich can be on a three-day go to to India next week between September 8 and 10, throughout which he’ll meet Union Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Minister of Housing and Urban Affairs Manohar Lal Khattar.
Besides, the Israeli Finance Minister may even go to Mumbai and the GIFT City in Gandhinagar.
“The aim of this visit is to deepen Israel’s economic and financial ties with India through bilateral meetings and prepare common ground for some of the key agreements, including bilateral investment treaty (BIT) and free trade agreement (FTA),” sources informed PTI in Jerusalem.
“Both countries have been negotiating a draft bilateral investment treaty (BIT) and have concluded the negotiations. The Finance Ministers are expected to sign the BIT during the visit.” The BIT between the 2 nations assures acceptable safety to Israeli and Indian buyers, in gentle of related worldwide precedents and practices.
It is likely to improve the consolation degree and enhance the arrogance of buyers by assuring a minimal commonplace of remedy and non-discrimination, whereas offering for an unbiased discussion board for dispute settlement by way of arbitration.
Israel has signed BITs with over 15 nations since 2000, together with the UAE, Japan, the Philippines, Thailand, and South Africa.
“BIT reflects both nations’ shared commitment towards enhancing economic cooperation and creating a more robust and resilient investment environment. The BIT is expected to pave the way for increased bilateral investments, benefiting businesses and economies in both countries,” one of many sources mentioned.
This is the fourth go to by any Israeli Minister to India this 12 months.
Israeli Minister of Tourism Haim Katz, Minister of Economy and Industry Nir Barkat and Minister of Agriculture and Food Security Avi Dichter visited India earlier this 12 months.
India and Israel are strategic companions, and bilateral commerce between the nations is shut to $4 billion yearly.
Cumulative ODI from India to Israel through the interval April 2000 to April 2025 was $443 million, and Israel’s direct FDI into India through the interval April 2000 – March 2025 was $334.2 million.
As lively members of establishments just like the World Bank and the Asian Development Bank, each nations can co-finance Multilateral Development Bank (MDB) backed initiatives or assist joint initiatives in third nations, significantly the worldwide south.
