India Revamps Investment Treaties for Global Appeal

India plans to revamp its current Bilateral Investment Treaty model to attract more foreign investment. The move comes after past costly arbitration cases with Vodafone and Cairn Energy. The updated framework aims to align with global investment norms, balancing policy space and investor protections.

In a significant policy shift, the Indian government announced plans to overhaul its Bilateral Investment Treaty (BIT) model to enhance investor appeal and bring more foreign investments to the country.

The announcement was made by Finance Minister Nirmala Sitharaman, indicating a move towards a more investor-friendly approach after costly arbitration disputes in high-profile international cases with entities like Vodafone and Cairn Energy.

Economic experts, including GTRI's Ajay Srivastava, view this revamp as a crucial step for India to align with global investment norms, a necessary evolution as the nation steadily climbs towards becoming a global economic powerhouse.

(With inputs from agencies.)