India and Israel Forge New Investment Path with Bilateral Agreement
India and Israel have signed a Bilateral Investment Agreement, aiming to enhance economic cooperation and stimulate investments between the two nations. The agreement, signed by finance ministers in New Delhi, seeks to create a stable environment for investors and possibly pave the way for a future free trade agreement.
- Country:
- India
In a significant move to bolster economic ties, India and Israel signed a Bilateral Investment Agreement (BIT) on Monday in New Delhi. This pact is designed to enhance reciprocal investments and foster robust economic cooperation between the two countries.
Speaking to ANI, Shmuel Abramzon, Chief Economist at Israel's Ministry of Finance, highlighted the agreement's potential to bring 'clarity and stability' to investors on both sides. 'We already have investments from both sides, and we want to increase that,' said Abramzon. He further mentioned that the BIT might pave the way for a free trade agreement.
The agreement was signed by Israel's Finance Minister Bezalel Smotrich and India's Finance Minister Nirmala Sitharaman. While discussions on a free trade agreement have begun, no concrete timeline has been set due to ongoing negotiations with other global partners, Abramzon added. The agreement also emphasizes opportunities in service sectors and infrastructure, with Indian companies showing interest in Israeli projects.
(With inputs from agencies.)
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