Since India’s quest has been to establish a rule-based global order, its support for an appellate review will ensure more state and investor confidence in international investment law.
To boost foreign inflows into India’s manufacturing and industrial sectors, India plans to liberalize foreign investments in the ‘non-services sector’ in the ongoing Free Trade Agreement discussions.
As India and the UK inch closer towards finalising a free trade agreement, the contours of the much-debated and contentious bilateral investment treaty are likely to be finalised around the same time as the FTA.
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.