«India and Israel Prepare New Agreement to Strengthen Economic Ties»

Smotrich will meet with India's Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and Housing Minister Manohar Lal Khattar. He will also visit Mumbai and the GIFT City in Gandhinagar.

The agreement aims to deepen economic and financial ties by offering Israeli and Indian investors protection and a non-discriminatory environment. It will also provide an independent arbitration forum for dispute resolution.

Israel has signed agreements with more than 15 countries, including the UAE, Japan, the Philippines, Thailand, and South Africa. The new treaty is expected to increase the volume of bilateral investments, benefiting businesses in both countries.

This is Smotrich's fourth visit to India this year, following trips by Israel's Tourism Minister Haim Katz, Economy Minister Nir Barkat, and Agriculture Minister Avi Dichter.

The volume of bilateral trade between India and Israel stands at nearly $4 billion annually. The cumulative foreign direct investment (FDI) from India to Israel has reached $443 million, while Israeli FDI in India amounts to $334.2 million.

Both countries are active members of institutions such as the World Bank and the Asian Development Bank, enabling them to co-finance multilateral projects or support joint initiatives, particularly in the Global South.