India’s Joint Interpretive Statement for BITs: An Attempt to Slay the Ghosts of the Past

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By Sarthak Malhotra

(This article was originally published in ITN Quarterly, December 2016, International Institute for Sustainable Development here.)

India has bilateral investment treaties (BITs) or bilateral investment promotion agreements (BIPAs) in force with 72 countries.[1] The initial duration of these agreements with 25 countries has not yet expired.[2] The Government of India (Government) has recently begun negotiations with these countries proposing a Joint Interpretative Statement (Statement)[3] containing clarifications similar to the text of India’s new Model BIT.[4] We highlight below nine of the clarifications included in the Statement.Read More »

India’s Federalism and Investment Arbitration

By Sarthak Malhotra

A key area of exposition both in Public International Law and Investment Arbitration is what constitutes an ‘act of state’.( ‘State Responsibility and Attribution’ in Schreuer,. and Dolzer, Principles of international investment law (2008), 195-205) The Draft Articles on State Responsibility has been a ground-breaking work in codifying the rules of attribution of responsibility to the states. A related issue in this regard is the attribution of liability to a State in cases of breach of its treaty obligations by its political sub-divisions.Read More »