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Author: Prabhash Ranjan Publisher: Oxford University Press ISBN: 0199097070 Category : Performing Arts Languages : en Pages : 414
Book Description
As a consequence of being sued by more than 20 foreign investors, India terminated close to 60 investment treaties and adopted a new Model Bilateral Investment Treaty (BIT) purportedly to balance investment protection with the host State’s right to regulate. This book is a critical study of India’s approach towards BITs and traces their origin, evolution, and the current state of play. It does so by locating them in India’s economic policy in general and policy towards foreign investment in particular. India’s approach towards BITs and policy towards foreign investment were consistent with each other in the periods of economic nationalism (1947–1990) and economic liberalism (1991–2010). However, post 2010, India’s approach to BITs has become protectionist while India’s foreign investment policy continues to be liberal. To balance investment protection with the State’s right to regulate, India needs to evolve its BIT practice based on the twin framework of international rule of law and embedded liberalism.
Author: Prabhash Ranjan Publisher: ISBN: Category : Languages : en Pages : 45
Book Description
In the global backdrop of backlash against bilateral investment treaties (BITs) and the investor-State dispute settlement (ISDS), this paper critically studies India's new Model BIT, adopted in 2016 as a response to increasing number of ISDS claims brought against India. The paper studies the Indian Model BIT, which heralds a new era of India's BIT practice, from the standpoint of two key objectives that the Indian government claims the Model BIT achieves. First, the claim that the purpose of the Model BIT is to balance investment protection with host State's right to regulate. Second, the claim that the Model BIT aims to make the treaty provisions more precise so as to minimise arbitral discretion. The paper shows that for most of the key provisions given in the Model BIT, contrary to the Indian government' claim, India has not been able to strike a balance between investment protection and host State's right to regulate. For most of the provisions the scale tilts in favour of host State. The paper also shows that many provisions in the Indian Model BIT, contrary to the government's claim, are vague and imprecise and thus, continue to grant significant discretion to ISDS arbitral tribunals to determine the actual import of these provisions.
Author: Prabhash Ranjan Publisher: Oxford University Press ISBN: 0199097070 Category : Performing Arts Languages : en Pages : 414
Book Description
As a consequence of being sued by more than 20 foreign investors, India terminated close to 60 investment treaties and adopted a new Model Bilateral Investment Treaty (BIT) purportedly to balance investment protection with the host State’s right to regulate. This book is a critical study of India’s approach towards BITs and traces their origin, evolution, and the current state of play. It does so by locating them in India’s economic policy in general and policy towards foreign investment in particular. India’s approach towards BITs and policy towards foreign investment were consistent with each other in the periods of economic nationalism (1947–1990) and economic liberalism (1991–2010). However, post 2010, India’s approach to BITs has become protectionist while India’s foreign investment policy continues to be liberal. To balance investment protection with the State’s right to regulate, India needs to evolve its BIT practice based on the twin framework of international rule of law and embedded liberalism.
Author: K. Rajaraman Publisher: ISBN: Category : Languages : en Pages : 25
Book Description
The paper analyses the evolution of India's Bilateral Investment Treaty (BIT) policy in terms of continuity and change over time, in tune with the changing domestic and international investment regimes. On the drafting of India's new model BIT, the paper explains why the Indian authorities pursued a realistic approach to find a “middle path” between investment protection standards and the legitimate right of governments to regulate economic activity in the public interest. The authors explain the underlying rationale behind the substantive and procedural changes made in the new Indian model BIT. The authors view the review of the model treaty is merely one more contribution to changing the system of investment treaties worldwide with the next challenge being to overhaul the large number of India's existing BITs to bring them in line with the renewed approach and integrate the trade and investment regimes towards a common agenda.
Author: Julien Chaisse Publisher: BRILL ISBN: 9004360107 Category : Law Languages : en Pages : 725
Book Description
International Investment Treaties and Arbitration Across Asia brings together leading academics and practitioners to examine whether and how the Asian region has or may become a significant ‘rule maker’ in contemporary international investment law and dispute resolution. The editors introduce FDI trends and regulations, investment treaties and arbitration across Asia. Authors add country studies for the ten member states of the Association of Southeast Asian Nations as well as an overview of ASEAN treaties, or examine other potential ‘middle powers’ (Korea, Australia and New Zealand collectively) and the emerging ‘big players’ (China, Japan and India). Two early chapters present econometric studies of treaty impact on FDI flows, in aggregate as well as for Thailand, while two concluding chapters offer other normative and forward-looking perspectives.
Author: Aniruddha Rajput Publisher: Kluwer Law International B.V. ISBN: 904118614X Category : Law Languages : en Pages : 248
Book Description
India is one of the fastest growing economies and intends to achieve the desired growth with the help of foreign investment. Recently, India terminated all the existing Bilateral Investment Treaties (BITs) and announced to renegotiate them based on the newly issued Model BIT. This book is the first comprehensive commentary and analyses of international investment law with focus on India. It offers detailed examination of India’s legal position in relation to protection of foreign investment and the impact of investment treaty arbitration and related jurisprudence on the country’s governance structures and regulatory framework. Additionally, it reflects upon the political and economic rationales for the policy on foreign investment. Among the matters discussed are the following: • jurisprudence of investment tribunals, with focus on cases where India was a party (White Industries v. India); • impact of the Make in India campaign and other reforms on foreign investment; • requirement of valid entry and operation of foreign investment; • prominent treatment standards such as expropriation, fair and equitable treatment, full protection and security, most favoured nation, and national treatment; • dispute resolution clauses and enforcement of investment arbitration awards; • interaction of protection of foreign investment and the Indian judiciary; and • reasons for India not joining the ICSID Convention. Given India’s position as a hugely influential player in the cross-border movement of capital, with the willingness to ‘change the rules’ on foreign investment and investment treaty arbitration worldwide, this book will prove of immeasurable value to practitioners, legal academics, interested policy makers, multinational corporations and their counsel and others interested in international investment law and India.
Author: Jonathan Bonnitcha Publisher: Oxford University Press ISBN: 019871954X Category : Business & Economics Languages : en Pages : 354
Book Description
Investment treaties are some of the most controversial but least understood instruments of global economic governance. Public interest in international investment arbitration is growing and some developed and developing countries are beginning to revisit their investment treaty policies. The Political Economy of the Investment Treaty Regime synthesises and advances the growing literature on this subject by integrating legal, economic, and political perspectives. Based on an analysis of the substantive and procedural rights conferred by investment treaties, it asks four basic questions. What are the costs and benefits of investment treaties for investors, states, and other stakeholders? Why did developed and developing countries sign the treaties? Why should private arbitrators be allowed to review public regulations passed by states? And what is the relationship between the investment treaty regime and the broader regime complex that governs international investment? Through a concise, but comprehensive, analysis, this book fills in some of the many "blind spots" of academics from different disciplines, and is the first port of call for lawyers, investors, policy-makers, and stakeholders trying to make sense of these critical instruments governing investor-state relations.
Author: Prabhash Ranjan Publisher: ISBN: Category : Languages : en Pages :
Book Description
India's decision to adopt a new model BIT especially in light of the growing debate on how to reconcile investment protection with host State's right to regulate, should be welcomed. India, at last, woke up, courtesy foreign investors suing India under different BITs, to the reality that broad and vague investment protection standards can be interpreted in manners that give precedence to investment protection over host State's right to regulate. The Indian attempt in the new model BIT should have been to reconcile investment protection with host State's right to regulate. However, as this paper shows, the new model BIT has been able to do this reconciliation only as far some standards are concerned such as fair and equitable treatment, FPS and MTPs. For some other provisions such as definition of investment, exclusion of a MFN clause and of taxation measures, and the complicated investor state dispute settlement system fail to reconcile investment protection with host State's right to regulate.
Author: Prabhash Ranjan
Author: Prabhash Ranjan
Author: Prabhash Ranjan
Author: James J. Nedumpara
Author: K. Rajaraman
Author: 
Author: Law Commission of India
Author: Julien Chaisse
Author: Aniruddha Rajput
Author: Jonathan Bonnitcha
Author: Prabhash Ranjan