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India and Israel Sign New Investment Pact Under Revised Treaty Model

The pact marks India's first investment treaty with an OECD economy under its revised model.

Israel finance minister Bezalel Yoel Smotrich and Indian Finance Minister Nirmala Sitharaman signs an agreement in New Delhi on Monday | ANI
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Overview

  • Finance ministers Nirmala Sitharaman and Bezalel Smotrich signed the Bilateral Investment Agreement in New Delhi on 8 September.
  • The agreement replaces the 1996 treaty that India terminated in 2017 under its investment-policy overhaul.
  • The pact provides investor protections such as fair and equitable treatment, safeguards against expropriation, free transfer of funds, non-discrimination, and access to arbitration.
  • Officials framed the deal as groundwork for deeper economic cooperation, including a potential free trade agreement, fintech collaboration, infrastructure projects, and engagement with multilateral development banks.
  • Smotrich led a senior delegation holding working meetings in India, invited Sitharaman for a reciprocal visit, and said Israel is considering a Finance Ministry office in India; visits to Mumbai and GIFT City are part of the three-day trip.