Foreign litigation avoidance |
India has triggered the escape clause on dozens of bilateral investment treaties, aiming to renegotiate toward securing better protection from foreign litigation. The notifications, issued earlier this year, effectively let governments know they have 12 months to broker new treaties before the old ones expire. The changes India seeks could make it harder for foreign investors to legally challenge government decisions that negatively affect their businesses in India.But observers say the move could potentially backfire by spooking investors and ultimately jeopardizing Prime Minister Narendra Modi`s top priority — bringing in new business from abroad.
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