Budget 2025: Govt announces plan to turn a BIT more friendly to investors
Bilateral Investment Treaty (BIT), as it seeks to make the country an attractive investment destination for foreign investors.
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The move comes in the backdrop of only a few countries accepting the current framework, which was amended after India lost a few high-profile arbitration disputes, such as the ones with Cairn Energy and Vodafone, at international forums.
New Delhi is also keen to attract foreign investment and the revamp is expected to give a leg-up to the country in its negotiations with trading partners.
«To encourage sustained foreign investment and in the spirit of 'first develop India', the current model BIT will be revamped and made more investor friendly,» finance minister Nirmala Sitharaman said in her budget speech on Saturday.
India is currently negotiating investment agreements with the UK, Saudi Arabia, Qatar and the European Union (EU).
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