This is India’s first-ever investment agreement with Israel.

Israel and India have signed a new bilateral investment agreement aimed at bolstering economic ties and encouraging mutual investments.

The agreement, signed in New Delhi by Israel’s Finance Minister Bezalel Smotrich and India’s Finance Minister Nirmala Sitharaman, replaces a previous 1996 agreement that was cancelled in 2017. This marks Israel as the first OECD country to adopt this model with India. The deal provides greater certainty and protection for investors, fostering expanded trade and investment opportunities.

The signing is part of a broader visit by a high-level Israeli delegation, including senior officials from the Ministry of Finance and the Bank of Israel, to strengthen economic cooperation. Discussions between the two nations focused on innovation, infrastructure, financial regulation, and digital trade. Both sides also agreed to explore a joint financial protocol to enhance financing options for Israeli exporters. They discussed the potential establishment of an Israeli Finance Ministry office in India to deepen economic collaboration.

The visit underscores the strategic partnership between the two countries, with shared goals of advancing regional development and economic projects.