India Requests Renegotiation of Bilateral Investment Treaties with 68 Countries – Times of India

The Indian government has recently requested the renegotiation of bilateral investment treaties (BITs) with 68 countries, as part of its efforts to protect domestic businesses from foreign investors. The BITs are agreements between two countries that provide a framework for the protection of investments made by companies from one country in the other.

The Indian government has argued that the existing BITs are outdated and do not provide enough protection for Indian businesses. It has also argued that some of the BITs have been used by foreign investors to take advantage of Indian businesses. As a result, the government has requested the renegotiation of these treaties in order to ensure that Indian businesses are adequately protected.

The government has also proposed a new model BIT which will provide greater protection for Indian businesses. This new model BIT will include provisions such as fair and equitable treatment for investors, protection against expropriation, and dispute settlement mechanisms. It will also include provisions to ensure that foreign investors do not take advantage of Indian businesses.

The renegotiation of the BITs is an important step for the Indian government in protecting domestic businesses from foreign investors. It is hoped that the new model BIT will provide greater protection for Indian businesses and ensure that foreign investors do not take advantage of them. This will help to create a more level playing field for Indian businesses and will help to promote economic growth and development in India.

Overall, the renegotiation of the BITs is a positive step for India and its businesses. It will help to ensure that Indian businesses are adequately protected from foreign investors and will help to promote economic growth and development in India.

Source: news.google.com

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