The previous Bilateral Investment Treaty (BIT) signed between India and Israel in 1996 got terminated in 2017.

Key Features of India-Israel BIT

• Boost to Investment: Increased bilateral investments, which presently stands at a total of USD 800 million.
• Investor Protection: Balances investor protection with the State’s regulatory rights by ensuring a minimum standard of treatment.
• Dispute Resolution: Facilitating growth of trade and investments with dispute resolution mechanism through arbitration.

Evolving co-operation between India-Israel

• Economic: Bilateral trade was USD 6.53 billion (excluding defense) with India's exports surplus in FY 2023-24.
• Regional co-operation: I2U2 Partnership’s first summit held in 2022, with India, Israel, UAE, and US participation.
• Innovation & Science Technology: E.g., India-Israel Industrial R&D and Innovation Fund (I4F) for 5 years (2023–27).
• Defence: Co-developed the Barak-8 missile system, regular port calls in Haifa, etc.
• Other: Cultural Exchange Programme, cooperation in health and medicine, MoUs on agriculture and water resource management, etc.