Israel and India sign bilateral investment pact

A delegation of officials from the Ministry of Finance and the Securities Authority led by Smotrich is in India to promote a range of economic collaborations. Other members of the delegation are: Director General Ilan Rom, Chief Economist Dr Shmuel Abramzon, Accountant General Yahli Rothenberg and Chairman of the Israel Securities Authority, Seffy Zinger.

Belonging to far-right Religious Zionist Party, 45-year-old Smotrich is known for controversial statements, including his statement in May this year where he had said that within half a year, the population of Gaza Strip would be confined to just a narrow swath of land, with the remainder of the enclave “totally destroyed”. Recently, he unveiled a proposal for Israel to annex 82 per cent of the West Bank in response to a range of Western countries’ plan to recognise a Palestinian state.

The Israeli Finance ministry said that in the meeting, the two ministers emphasised the “profound economic relations between the two countries, which are based on shared strategic interests, as well as their commitment to advancing economic cooperation in the fields of innovation, infrastructure development, financial regulation, and trade in digital services. It was also agreed to cooperate within the framework of regional development banks”.

Smotrich invited Sitharaman for a reciprocal visit to Israel. In addition, both sides agreed to jointly examine the establishment of a bilateral financial protocol.