Bilateral Investments Key For India’s Growth: FM

New Delhi: Finance Minister Nirmala Sitharaman has highlighted the need for bilateral investment treaties (BITs) to capture national interest in relation to regulatory powers and serve as a guide to arbitrators in resolving disputes to prevent investors with deep pockets from exploiting developing countries.

Speaking at the inauguration of the first PG Certificate Course on International Commercial & Investment Treaty Arbitration here, Sitharaman pointed out that arbitrators have often ignored the judicial decisions of the host country. While arriving at an arbitration outcome, even findings related to crimes like fraud and corruption which have been established through the court of law in the host country, put the states in a conflicting position to accept the award, she explained.