India, Sept. 9 -- India and Israel on Monday signed a Bilateral Investment Treaty (BIT) in New Delhi, which aims to promote and protect foreign private investments in each other's territories.

The agreement was signed by Union finance minister Nirmala Sitharaman and Israeli finance minister Bezalel Smotrich, the finance ministry said in a post on X. "Bilateral Investment Treaty btw Israel & India just signed!," added Ambassador of Israel to India Reuven Azar, also on X.

"Agreement is expected to provide greater certainty and protection for investors, facilitating growth of trade and mutual investments by ensuring a minimum standard of treatment, and an independent dispute resolution mechanism through arbitration," the Indian finance min...