India-Israel Pact: Paving a New Path in Bilateral Trade

In a significant move to strengthen economic ties, India and Israel are preparing to sign a Bilateral Investment Treaty (BIT) during the visit of Israel's Finance Minister, Bezalel Smotrich. The agreement is expected to create a foundation for a potential Free Trade Agreement (FTA) aimed at enhancing trade between the two nations.

Minister Smotrich's visit, scheduled for September 8-10, includes meetings with key Indian officials such as Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal. His itinerary also covers financial hubs like Mumbai and Gandhinagar's GIFT City, further underscoring the economic focus of his trip.

The BIT seeks to offer protections to investors from both countries, boosting confidence and ensuring non-discriminatory practices. As India and Israel continue to grow their economic partnership, this treaty marks a crucial step in creating a robust investment environment and facilitating mutual business interests.

(With inputs from agencies.)