What are BITs?
**Bilateral investment treaties (BITs) are agreements between two countries for the reciprocal encouragement, promotion and protection of investments in each other's territories by companies based in either country.
** Treaties typically cover the following areas:
--scope and definition of investment,
--admission and establishment,
--national treatment,
--most-favoured-nation treatment,
--fair and equitable treatment,
-- compensation in the event of expropriation or damage to the investment,
--guarantees of free transfers of funds, and-- dispute settlement mechanisms, both state-state and investor-state.
*** India has also signed more than 70 Bilateral Investment Treaties (BITs) and is in the process of negotiating many more such BITs with countries like the US.
INDIAN BITs AT A GLANCE-
- India signed its first BIT in 1994 with the United Kingdom .
- Since 1994, India has signed BITs with 75 States
- Out of which 66 are already in force and 9 are yet to beentered into force.
- Negotiations with another 25 States are underway.
-Around 40 B I T s are with develo ping and less developed States.
-Around 20 of the BITs enforced have been done in last five years.
Courtesy - Nisha Dolas, Surekha Dabhade
**Bilateral investment treaties (BITs) are agreements between two countries for the reciprocal encouragement, promotion and protection of investments in each other's territories by companies based in either country.
** Treaties typically cover the following areas:
--scope and definition of investment,
--admission and establishment,
--national treatment,
--most-favoured-nation treatment,
--fair and equitable treatment,
-- compensation in the event of expropriation or damage to the investment,
--guarantees of free transfers of funds, and-- dispute settlement mechanisms, both state-state and investor-state.
*** India has also signed more than 70 Bilateral Investment Treaties (BITs) and is in the process of negotiating many more such BITs with countries like the US.
INDIAN BITs AT A GLANCE-
- India signed its first BIT in 1994 with the United Kingdom .
- Since 1994, India has signed BITs with 75 States
- Out of which 66 are already in force and 9 are yet to beentered into force.
- Negotiations with another 25 States are underway.
-Around 40 B I T s are with develo ping and less developed States.
-Around 20 of the BITs enforced have been done in last five years.
Courtesy - Nisha Dolas, Surekha Dabhade
