6 hrs ago
India’s New Investment Treaty Framework Awaits Cabinet Approval
India is preparing a new set of rules for investment agreements with other countries.
Finance Minister Nirmala Sitharaman said the Cabinet is expected to approve the new template soon.
The agreement with Saudi Arabia includes protections for investors from both countries.
India has also made similar agreements with some other countries.
Talks are continuing with countries including Canada and Russia.
Sitharaman said India may finish agreements with at least three more countries by December.
Canada’s agreement could take until December or early next year, depending on how the talks go.
Finance Minister Nirmala Sitharaman said a new bilateral investment treaty template will be submitted for Cabinet approval soon.
The agreement with Saudi Arabia goes beyond India’s 2016 framework and includes stronger investor-protection elements for both countries.
India has concluded similar agreements with the United Arab Emirates, Oman and some Central Asian countries.
Negotiations on bilateral investment protection agreements are underway with several countries, including Canada and Russia.
Sitharaman said India could conclude agreements with at least three more countries by December; Canada talks could finish by December or early next year if progress continues as expected.
- Who
- India, represented by Finance Minister Nirmala Sitharaman, and countries negotiating investment protection agreements.
- What
- A new bilateral investment treaty template is expected to receive Cabinet approval, while negotiations continue with other countries.
- Where
- India and its bilateral negotiations with Saudi Arabia, the United Arab Emirates, Oman, some Central Asian countries, Canada and Russia.
- When
- Cabinet approval is expected soon; agreements with at least three more countries could be concluded by December. Canada talks could conclude by December or early next year if they progress as expected.
- Why
- The new template incorporates elements more focused on protecting investors’ interests in both countries.
Key facts
- New framework
- A new bilateral investment treaty template is expected to go to the Cabinet for approval shortly.
- Saudi Arabia agreement
- The agreement goes beyond the 2016 framework and includes investor-protection elements for both countries.
- Other concluded agreements
- India has concluded similar agreements with the United Arab Emirates, Oman and some Central Asian countries.
- Ongoing negotiations
- Talks include Canada and Russia, among several other countries.
- Potential agreements
- Sitharaman said India could conclude agreements with at least three more countries by December.
- Canada timeline
- Negotiations could conclude by December or early next year if they progress as expected.
Quotes
Nirmala Sitharaman
India’s finance minister
“We have a new template which will be approved shortly. But in the meanwhile, we've not halted the process. We are negotiating with countries with a lot more of those elements which are in the new template.”
timesnownews.com
“If things go well, by December we should be concluding agreements with at least three more countries.”
timesnownews.com
Sources
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