Brief by Shorts91 Newsdesk / 10:45am on 25 Oct 2023,Wednesday India Global
India is shifting its approach to bilateral investment treaties (BITs) in negotiations with the UK, aiming to expedite the resolution of investor-state disputes in a new treaty to accompany a forthcoming free trade agreement. India has historically favored local remedies to address investment-related legal disputes, but is now considering international arbitration. The adjustment is targeted at strategically important countries, following India's exit from the Regional Comprehensive Economic Partnership (RCEP). The shift stems from concerns about the time it takes to resolve disputes in India. The new BIT would address issues for new entrants or businesses entering the market.
