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Overhaul of treaties soon to woo foreign investors
Financial Express Mumbai
|April 08, 2024
TO CREATE A more investor-friendly climate, the government has decided to revisit its approach to bilateral investment treaties (BITS).
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The move is triggered by the fact that the BIT text adopted by India after comprehensive review in 2016 has found few takers among key trading partners.
According to official sources, the prime minister's office has given the task of reviewing the 2016 BIT model to the ministry of commerce and industry. The ministry will kick-start wider consultations on the subject, with a meeting with lawyers and other experts on Monday, a senior official said.
While the 2016 model sought to plug the loopholes in the previous text, especially on the taxation front, the ministry has been asked to examine the concerns of investors.
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