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The Prime Minister's Office has tasked the commerce and industry ministry with reviewing the bilateral investment treaty (BIT) template to bolster India's appeal as an investor-friendly destination. The ministry plans to consult experts to address concerns over investor-state dispute resolution, aiming to refine the BIT text to align with India's interests and international norms.
The US Court of Appeals for the Ninth Circuit ruled on August 1 that Antrix Corporation, ISRO’s commercial arm, enjoyed immunity under the Foreign Sovereign Immunities Act.
India's Ministry of Commerce and Industry is pushing for changes in the country's Bilateral Investment Treaty (BIT) text for some of its trade partners, but remains adamant that foreign investors must not invoke arbitration until they have exhausted all local remedies. India has gone into negotiations with the EU, where it has stressed that the country has a strong judiciary.
India's Ministry of Commerce and Industry is pushing for changes in the country's Bilateral Investment Treaty (BIT) text for some of its trade partners, but remains adamant that foreign investors must not invoke arbitration until they have exhausted all local remedies. India has gone into negotiations with the EU, where it has stressed that the country has a strong judiciary.
The move by Mauritius authorities to take control of the three Mauritius firms that invested in Devas is part of a protracted legal battle between Indian authorities and the Devas Multimedia investors.