Amid tariff dispute with US, India and Israel are going to have a free trade agreement, Trump may get a shock:

News Topical, Digital Desk : Amid the tariff dispute with the US, India and Israel are soon going to sign a bilateral investment treaty (BIT). This may come as a shock to US President Donald Trump. According to sources, this agreement is possible during the visit of Israel's Finance Minister Bezalel Smotrich to India. He is coming to India on a three-day visit from 8 to 10 September.

India-Israel economic relations will get strengthened

The main objective of this visit is to strengthen the economic and financial relations between India and Israel. Along with this, the foundation of a possible free trade agreement (FTA) can also be laid during this period, which will give a new direction to trade cooperation between the two countries. During his visit, Smotrich will meet Indian Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Housing and Urban Affairs Minister Manohar Lal Khattar. Apart from this, he will also visit GIFT City in Mumbai and Gandhinagar.

The draft has already been discussed

“The purpose of this visit is to further strengthen Israel's economic relations with India. The aim is also to develop a common understanding on major agreements like Bilateral Investment Treaty (BIT) and Free Trade Agreement (FTA). Sources also informed that the negotiations on the draft of BIT have been completed. Now it is expected that Smotrich will sign this treaty during this visit.

what will be the benefit

Investors from both countries will get guarantee of legal security and stability. Along with this, an independent arbitration forum will be available for settlement of disputes. Let us tell you that Israel has so far signed BIT with more than 15 countries since 2000, which include United Arab Emirates, Japan, Philippines, Thailand and South Africa. This upcoming visit can prove to be an important milestone in the growing economic cooperation between India and Israel.