PM may visit Israel on Feb 25, hold talks with Netanyahu, Pg10

Key Highlights:

• Prime Minister Narendra Modi is expected to visit Israel around February 25.
• Israeli PM Benjamin Netanyahu announced Modi's upcoming visit, emphasizing the strong alliance between Israel and India.
• Modi is expected to address the Israeli Knesset (Parliament) and meet with business leaders and the Indian diaspora.
• This will be Modi's second visit to Israel, following his historic trip in July 2017.

Detailed Insights:

• The visit signals a move forward in India-Israel relations after the end of the Gaza war and a fragile ceasefire.
• India has expressed support for the Gaza peace plan but has not joined the Board of Peace.
• India and Israel share deep strategic ties, particularly in defence and security cooperation, which are expected to be strengthened during the visit.
• Discussions are expected on advancing the India-Middle-East-Europe Economic Corridor (IMEC), a project of importance to both nations.
• Recent high-level visits from Israeli ministers to India and the signing of a Bilateral Investment Treaty (BIT) and Terms of Reference (TOR) for a Free Trade Agreement (FTA) highlight growing economic ties.
• A pact was signed in November to enhance defence, industrial, and technological cooperation, promoting co-development and co-production.

Key Concepts Involved:

• Bilateral Investment Treaty (BIT): An agreement between two countries regarding investments made by investors of one country in the territory of the other.
• Free Trade Agreement (FTA): A pact between two or more countries to reduce barriers to imports and exports among them.
• India-Middle-East-Europe Economic Corridor (IMEC): A proposed trade corridor to connect India with Europe through the Middle East.