India’s New Investment Protection Template: FM Sitharaman Eyes 3 More Deals By December

Finance Minister Nirmala Sitharaman said India is preparing a new template for bilateral investment protection agreements, replacing the 2016 framework that she said has not delivered enough benefits for India. She said the new template incorporates elements from recently concluded agreements, including pacts with Saudi Arabia and the UAE, and is expected to receive Cabinet approval. Sitharaman said negotiations are already underway using elements of the proposed framework, including with Canada and Russia, and that India could conclude investment protection agreements with at least three more countries by December if negotiations progress as planned.