New Delhi, Sept. 8 -- India and Israel have signed a new Bilateral Investment Agreement (BIA) aimed at strengthening reciprocal investments and expanding economic cooperation between the two nations, according to an official statement by Israel's Ministry of Finance.

At the center of the visit, Israel's Minister of Finance Bezalel Smotrich and India's Finance Minister Nirmala Sitharaman signed the agreement in New Delhi on Monday. The statement noted that Israel has become the first OECD member state with which India has signed such a strategic agreement, in line with India's new model for investment treaties.

The agreement will promote reciprocal investments between investors from both countries, ensuring certainty and protection while...