The experience with investor-state dispute settlement mechanisms has been mixed, with India facing several adverse awards and financial compensation in certain high-profile cases.
ICSID Tribunal unanimously ordered Tanzania to pay more than US$109.5million plus costs for the unlawful expropriation of the Ntaka Hill Nickel Project (India).
If India’s approach and engagement with international investment agreements can be distinguished into phases, with the new agreements being negotiated and concluded, India is poised to enter a new phase.
Si l’approche et l’engagement de l’Inde en matière d’Accords internationaux d’investissement peuvent être divisés en phases, l’on peut dire que l’Inde est sur le point d’entamer une nouvelle phase avec les nouveaux accords en cours de négociation et de conclusion.
Britain’s investment minister said he would like to see strong investment protections in any future trade deal with India, and that the two countries could work more closely together on financial services even without a trade pact.
India has issued termination notices to 68 countries for Bilateral Investment Treaties with a request to renegotiate on the basis of the model agreement formulated in 2015.
The plan is to use the funding to support the damages claim against the Republic of India for breaches of its obligations under the Australia-India Bilateral Investment Treaty.
The Supreme Court of Netherlands refused to overturn $111.3 million arbitral award levied by the District Court of Hague, finding the Indian government liable for improperly terminating the Devas-Antrix deal in 2011.
Devas Multimedia had won an arbitration award of $1.2 billion after the Indian government terminated its satellite deal with Antrix Corporation, the commercial arm of the ISRO in 2011.