India-Israel Pact: Boosting Bilateral Trade with New Investment Treaty

India and Israel are poised to strengthen economic ties by signing a Bilateral Investment Treaty (BIT) during Israeli Finance Minister Bezalel Smotrich's visit this week, sources report to PTI. Aimed to pave the path for a free trade agreement, the treaty seeks to enhance bilateral trade and investment opportunities.

Set for a three-day visit, Smotrich plans to meet with key Indian ministers, including Finance Minister Nirmala Sitharaman and Commerce and Industry Minister Piyush Goyal. Discussions will revolve around finalizing the BIT, which assures protections for investors and fosters a conducive investment climate.

The treaty promises increased investor confidence with standards of non-discrimination and dispute resolution through arbitration, while fostering growth in both nations' economies. This strategic partnership aligns with India and Israel's broader economic cooperation goals, furthering their combined innovation and market potentials.

(With inputs from agencies.)