Millennium Post

Govt to replace BIPA with new pact to protect investments

The government plans to replace bilateral investment protection treaties with a new pact that seeks to plug loopholes and enhance legal protection of foreign investors in India as well as Indian investments abroad.

Finance Ministry is moving Cabinet with a draft of a new agreement called the Bilateral Investment Treaty (BIT) saying there is a need to revisit existing BIPAs as they do not take into account the socio economic objectives of government policy. India has so far signed 83 Bilateral Investment Promotion and Protection Agreements (BIPA), of which 72 are in force, the Finance Ministry said in its website.
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