New Delhi: India and Israel signed a Bilateral Investment Agreement here on Monday to provide greater certainty and protection for investors to boost the growth of mutual investments between the two countries.
The agreement was signed by Finance Minister Nirmala Sitharaman and her Israeli counterpart Bezalel Smotrich.
“The agreement marks a historic milestone in the relations of the two countries. The agreement is expected to boost investments, provide greater certainty and protection for investors, facilitate the growth of trade and mutual investments by ensuring a minimum standard of treatment, and an independent dispute resolution mechanism through arbitration,” according to an official statement.
The agreement also includes provisions to safeguard investments against expropriation, ensure transparency, and enable smooth transfers and compensation for losses. At the same time, it carefully balances investor protection with the State’s regulatory rights, preserving sufficient policy space for sovereign governance, the statement explained.
The signing of the agreement reflects the shared commitment of both nations 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, thereby benefiting businesses and economies in both countries.
In this regard, Finance Minister Nirmala Sitharaman mentioned that both sides should have more business interaction to explore opportunities of investments, to gain benefit from the agreement. (IANS)
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