India, China hold strategic dialogue
The Dollar Business Bureau India and China on Wednesday conducted a strategic dialogue to strengthen their bilateral relations. This is the first ever strategic dialogue between the two nations nearly 67 years after they established diplomatic relations, and the first ‘strategic dialogue meet’ after 30 bilateral dialogues that happened over the years. Many have labelled this visit by the Indian foreign secretary as a significant one albeit not as historic as Nehru’s visit in 1954 or Rajiv Gandhi’s visit in 1988 nor the recent visit by PM Modi in 2015, but significantly important and strategic enough for the world to sit up and notice. The foremost agenda of the foreign secretary is to try and understand China’s reluctance to support India’s membership ...
Govt clears signing of investment treaty with Cambodia
The Dollar Business Bureau The Cabinet has given its approval for signing the investment treaty with Cambodia – the Bilateral Investment Treaty (BIT). This is the first pact to be signed between the two countries on the basis of model text of BIT. The cabinet meeting, chaired by Prime Minister Narendra Modi, has taken the decision. The treaty is aim to protect and promote investments from either nation in the territory of the other nation with the purpose of enhancing flows of bilateral investment, according to an official statement. “It is the first Bilateral Investment Treaty in accordance with the text of the Indian Model BIT, approved by the Cabinet in December 2015,” it added. The investment treaty will motivate each ...
Govt gives nod to revised Bilateral Investment Treaty
The Dollar Business Bureau The government on Wednesday approved the revised model of the Indian Bilateral Investment Treaty (BIT) – a model that would provide appropriate protection to foreign investors in India and Indian investors in the foreign countries. “The revised model BIT will be used for re-negotiation of existing BITs and negotiation of future BITs and investment chapters in Comprehensive Economic Cooperation Agreements (CECAs)/Comprehensive Economic Partnership Agreements (CEPAs)/Free Trade Agreements (FTAs),” Ministry of Finance said in a statement on Wednesday. The new model will encourage foreign investors and provide them a balance between investors’ right and the government’s obligations and ensure non-discrimination in all policy matters. It will also establish an independent forum for dispute settlement by arbitration. “BITs ...
India shares draft copy of bilateral investment treaty with US
Source: PTI With the US keen on accelerating the BIT negotiations process, India has shared with it the draft copy of the proposed bilateral investment treaty that awaits Cabinet approval. During the US-India Trade Policy Forum (TPF) meeting that concluded on Thursday, Indian officials told their American counterparts that they would be in a better position to talk on it once the draft of the model text for the bilateral investment treaty (BIT) is approved by the Cabinet. “In fact, they wanted us to have a detailed talk on it. The investment treaty is awaiting Cabinet clearance. Draft copies (of BIT) were exchanged,” Commerce Minister Nirmala Sitharaman told Indian reporters at the conclusion of ninth round of India-US TPF, which she co-chaired with the ...
Law commission submits report on Bilateral Investment Treaty
Source: PIB, Government of India The Law Commission of India on Thursday submitted its Report No. 260 on the “Analysis of the 2015 Draft Model Indian Bilateral Investment Treaty” to the Union Minister of Law and Justice. The report is presented with a view to assist the Government of India in achieving a balanced negotiating text that takes into consideration the protection of Indian investors investing abroad, as well as safeguarding the regulatory powers of the State. India’s bilateral investment treaty (BIT) programme is part of a larger trade and investment agenda of the Indian government to boost investor confidence and increase investment flows into and out of the country. India signed its first BIT with the United Kingdom in ...
Government mulling strong bilateral treaty to revise investment pacts
Source: PTI The government will soon come with a comprehensive model Bilateral Investment Treaty (BIT), which will form basis for fixing shortcomings in existing pacts and negotiations with different countries. Government had decided to come out with a new framework after several multinational firms invoked bilateral investment protection agreements. The model text would be used for renegotiating the BITs and would form basis for new investment protection treaties. As per the proposal, the model BIT may include provisions to limit power of tribunal to award monetary compensation to an aggrieved investor, sources said. The Finance Ministry will move a Cabinet note on the issue soon. An aggrieved investor as per the proposal would have to exhaust all local remedies before initiating ...
India needs to curb red tape and lift FDI limits: US Vice President
Source: PTI India needs to cut red tape and lift limits on foreign direct investments (FDI) to move forward, US Vice President Joe Biden said as he sought a high-standard bilateral investment treaty that would make the world's fastest growing economy a magnet for the American capital and technology. "We each have a stake in other's economic vitality," Biden said. "We know, a powerful growing and vibrant Indian economy is in United States' self-interest. And, a growing US economy is in India's best interest. This is not a zero-sum game," he said yesterday in his address at an event to commemorate the 10th anniversary of India-US civil nuclear deal. Biden, who during his visit to India in 2013 had set the target ...
India, US for high-level bilateral investment treaty
The Dollar Business Bureau India and the United States are likely to enter into a high-level Bilateral Investment Treaty (BIT) aimed at creating ‘ease of doing business’ environment in India. This was informed by Richard Verma, US Ambassador to India, in his address at the annual general meeting of the American Chamber of Commerce (ACHAM). “We are working on a high-level BIT to make sure that any such treaty is of very high quality,” said the US Ambassador in his address. Both sides are working very hard towards the assessment of the high-level BIT in boosting the investors’ confidence, he added. And, the newly reconstituted strategic and the commercial dialogue is expected to be held in Washington soon, he informed. ...
