India Pursues A New Investment Arbitration Regime To Protect Itself

BRICS2016 | Septiembre 18
Recently, at the conference on ‘International Arbitration in BRICS’, Indian Finance Minister Arun Jaitley was unequivocal in pitching for a separate arbitration framework for the BRICS countries or the emerging economies. He was clear that India, like other developing economies, has been a victim of the inherent structural bias that prevails in the traditional frameworks of international arbitration.

Contrary to the perception, this stand of Jaitley’s is neither new nor isolated. In fact, it is even consistent with India’s stand since 2012, when the then Finance Minister of India indicated that India will renegotiate all its Bilateral Investment Treaties (BIT) from scratch. A new model BIT was approved by the Cabinet last year (2015) and it was indicated that it will be used to renegotiate all future BITs.

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India Pursues A New Investment Arbitration Regime To Protect Itself

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Un pensamiento en “India Pursues A New Investment Arbitration Regime To Protect Itself

  1. Politically incorrect as it might appear, it seems a tad schizophrenic on the part of India to try and try over the past twenty years –hard if I may add—to become an international arbitration center for the world to then clam up like this, thick as a bric along with other brics.

    What is it that they intend to do in terms of investment arbitration that will feel differently from “regular” investment arbitration? Is it all about national pride, perhaps better displayed saying no to international investment at the get go? Again, when is national pride to be displayed? Before or after accepting billions in foreign investment?

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