As reported in our recent India E Bulletin here, India has unveiled the final version of its Model Text for the Indian Bilateral Investment Treaty (Model BIT). The Model BIT serves as a template for negotiation by India of bilateral investment treaties and free trade agreements. India is a significant global trading and investment partner to many countries. It is currently negotiating a number of free trade and economic co-operation agreements (including with the EU, Canada and Australia).
Head of the India Arbitration Practice, Nick Peacock was invited to comment on the Final Model BIT for CNBC TV18’s The Firm, India’s only television programme covering corporate law, M&A, financial regulation, tax and audit matters.
In the interview, Nick discusses a number of the provisions in the Model BIT, including: the restricted scope of protection caused by the departure from the "asset" based definition of an investment found in most BITs in favour of an "enterprise" based definition; the change to the national treatment standard from the earlier draft Model BIT; the concern caused by omission of the Fair & Equitable Treatment standard; and the investor-state dispute resolution provisions (including the need to exhaust local remedies).
The programme can be accessed here.
To discuss the implications of the Model BIT or investment protection more generally, please contact Nick Peacock, Partner, or your usual Herbert Smith Freehills contact.
For further information, please contact Nick Peacock, Partner or your usual Herbert Smith Freehills contact.