The Bilateral Investment Agreement (BIA) between India and Israel came into force today. The agreement was signed in September last year in New Delhi.
The Finance Ministry said that the BIA is a landmark step towards strengthening bilateral economic relations and ensuring a secure and predictable investment climate.
It said that the BIA is robust in the protection of investments and investors with respect to their investments while being flexible enough to retain sovereign policy space in line with legitimate public policy objectives.
The BIA also reflects the modern principles and evolving jurisprudence of international investment law. The Ministry noted that the BIA is expected to contribute to increased cross-border investment activity and further deepen the economic partnership between India and Israel.