Bilateral Investment Treaty (BIT) and Free Trade Agreement (FTA) preparations between India and Israel gain momentum. Israel's Finance Minister is on a visit to India. This agreement will give a new direction to the economic relations between the two countries and may challenge US interests.
India-Israel Deal: Amidst growing tariff disputes with the United States, India and Israel are preparing to give a new direction to their economic relations. The possibility of a Bilateral Investment Treaty (BIT) and a Free Trade Agreement (FTA) between the two countries has intensified. This move could be a setback for US President Donald Trump.
Visit of Israel's Finance Minister to India
Israel's Finance Minister Bezalel Smotrich is arriving in India on a visit from September 8. This visit will be for three days and will conclude on September 10. During this period, several important agreements related to investment and trade may be signed between India and Israel.
Economic Relations between India and Israel to Strengthen
The main objective of this visit is to strengthen the economic and financial relations between the two countries. Additionally, the foundation for a Free Trade Agreement (FTA) is expected to be laid during this time. In his visit, Smotrich will meet with India's Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, and Minister of Housing and Urban Affairs Manohar Lal Khattar. Furthermore, he will also visit GIFT City in Mumbai and Gandhinagar.
Discussions on BIT already held
According to sources, the draft for the Bilateral Investment Treaty (BIT) between India and Israel has been prepared. Negotiations on this treaty have been completed, and it is expected that it will be signed during Smotrich's visit.
Investors to benefit
With the implementation of BIT and FTA, investors from both India and Israel will receive legal protection and stability. Additionally, an independent arbitration forum will be available for dispute resolution. This agreement can prove to be significant in assuring investors of long-term benefits and confidence.
Israel's Experience
Israel has signed Bilateral Investment Treaties (BITs) with over 15 countries from 2000 to the present. These include countries like the United Arab Emirates, Japan, the Philippines, Thailand, and South Africa. The agreement with India will take the economic cooperation between the two countries to new heights.
