Decoding India’s New Model BIT (I)
In 2013, India launched an official review of its bilateral investment treaties in the wake of public outcry over arbitration notices issued by several foreign investors. Since India negotiates BITs on the basis of a model, the purpose of the review was to revise the 1993 model treaty text in tune with the recent developments and to provide a roadmap for the re-negotiation of country’s existing BITs. In April 2015, the government released a new model treaty text which will replace the previous model text of 1993 and invited comments from public.
So far, India has signed bilateral investment treaties (BITs) with 86 countries. Apart…