India in talks about bilateral investment treaties with several countries to boost foreign inflows, says FM Sitharaman
Computer software and hardware, trading, services, telecommunications, automobiles, pharmaceuticals, and chemicals are among the primary sectors that draw FDI to India.
India is discussing bilateral investment treaties with other nations to boost foreign inflows, Finance Minister Nirmala Sitharaman said on February 1 during the Interim Budget session. (Image: PTI)
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India is negotiating this pact with countries like the United Kingdom. These investment treaties assist in promoting and protecting investments in each other's countries. (Image: PTI)
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She stated that foreign direct investment (FDI) has doubled in 2014-23 to USD 596 billion, compared to the inflow received during 2005-14. (Image: PTI)
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These agreements are significant because India previously lost two international arbitration proceedings against British telecom giant Vodafone and UK-based Cairn Energy plc over the retrospective levy of taxes. (Image: PTI)
Commenting on bilateral investment treaties (BITs), economic think tank GTRI stated that as India strives to become the world's third-largest economy, it must align its treaties with global investment practices, address the negative perception caused by mass treaty cancellations, and improve its negotiation skills. (Image: PTI)
