Blitz Bureau
NEW DELHI: INDIA and Israel on September 8 signed a bilateral investment agreement which is expected to boost investments, provide greater certainty and protection for investors, and facilitate the growth of trade and mutual investments by ensuring an independent dispute resolution mechanism through arbitration.
It was signed by Union Finance and Corporate Affairs Minister Nirmala Sitharaman and the Finance Minister of Israel, Bezalel Smotrich It also includes provisions to safeguard investments against expropriation, ensure transparency, and enable smooth transfers and compensation for losses. According to the Finance Ministry, the signing of the agreement reflects both nations’ shared commitment towards enhancing economic cooperation and creating a more robust and resilient investment environment. The agreement is expected to pave the way for increased bilateral investments between the two countries, which presently stands at a total of $800 million US.
Sitharaman said that both sides should have more business interaction to explore opportunities of investments, to gain benefits from the agreement. The Israeli Finance Minister spoke about the strong common background of the two countries achieving high economic growth despite security challenges.