Israel, India ink investment agreement during genocide in Gaza

India and Israel have signed a bilateral investment treaty to expand trade and financial cooperation, even as Israel faces international backlash over the ongoing genocide in Gaza.

The agreement was finalized during a three-day visit to New Delhi by Israel’s Finance Minister Bezalel Smotrich, who met his Indian counterpart, Nirmala Sitharaman. According to an Israeli government statement, this is the first bilateral investment treaty India has signed with a member of the Organisation for Economic Cooperation and Development (OECD).

India’s finance ministry described the deal as a “historic milestone,” noting that it will strengthen cooperation in fintech, infrastructure, financial regulations, and digital payments.

Sitharaman also highlighted the potential for collaboration in cybersecurity, defense, innovation, and high technology.

Smotrich, who has faced sanctions from several Western governments over his ties to illegal settlements in the West Bank, called the treaty “an important strategic step forward in the shared vision of the two countries.”

“The agreement reached today between Israel and India today reflects our economic growth, innovation, and mutual prosperity,” Smotrich wrote on X, emphasising the strategic and economic significance of the pact.