Explaining the boycott, Mohamed Hussain ‘Mundhu’ Shareef, minister at the President’s Office, said “Israeli investment is not important for us. We want investments from countries with human rights practices that are acceptable to us.”
Recent disputes, including the GMR-Maldives government row and the clash between foreign telecom firms Telenor, Sistema, Etisalat and Vodafone and the Indian government, have exposed India's vulnerable position in investment agreements. While the foreign telecom companies can use a potent weapon - the 'investment protection' clause in bilateral treaties - against India, GMR cannot do the same with Maldives.