Report on BITs
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Background:
- Bilateral Investment Treaty or BIT is an agreement for providing protection to investments by the companies and individuals of one state in another state.
- It is an international investment agreement, which provides for reciprocal commitment to protect each other’s private foreign investment in their territory.
- BITs have become an integral part of investment relations between the countries in the past few decades. They have a significant impact in the framing of international public policy.
- India signed its first BIT with the UK in 1994. Over the subsequent years, it has gone on to sign such treaties with over 80 countries.
- These BITs were negotiated on the basis of the 1993 Indian Model BIT text. This Model BIT text was revised in 2015.
- The ‘India and Bilateral Investment Treaties’ report
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