With new investment pact, India moves to bind its economy to Israel

Earlier this week, India signed a historic investment pact with Israel.

The deal, known as the Bilateral Investment Agreement (BIA), is meant to bolster investor confidence and provide smoother business transactions between the two countries.

At the signing ceremony in Delhi on 8 September, Israel's Finance Minister Bezalel Smotrich said the pact would "open new doors for both Israeli and Indian investors, strengthen Israeli exports, and provide businesses on both sides with certainty and tools to develop in the world's fastest-growing markets".

"India is a growing economic power, and cooperation is a tremendous opportunity for Israel."

In a statement, the Indian government said the agreement reflected "both nations' shared commitment towards enhancing economic cooperation and creating a more robust and resilient investment environment."

To put it simply, it is a pact that ties India and Israel's economies for the long run.