"The idea is to attract and promote foreign investment, but a major issue for investors is enforcement of contracts and speedy dispute resolution," said the official. Investors previously had an option to take India to international arbitration courts under bilateral investment treaties (BITs) the government had agreed with dozens of nations. BITs are agreements between two countries that give foreign investors protections, and among other things, legal recourse via international arbitration in disputes with a government. If India loses these cases, brought before most of its BITs lapsed, it could end up paying billions of dollars in damages. The finance ministry has held several meetings with other ministries to discuss the draft law, said the official.

Source: bd News24 January 15, 2020 11:03 UTC