In December 2015, the Indian government approved the final text of its revised model bilateral investment treaty (BIT). Shortly thereafter, in February 2016, India published a joint interpretative statement to clarify its understanding of certain treaty provisions found in existing Indian treaties. These recent developments in Indian investment treaty policy are products of a multi-year review process ,prompted at least in part by the 2011 finding against India in the White Industries claim - the first such known finding against the state – and by several notices of dispute received following the determination in that case.
Jesse Coleman & Kanika Gupta,
India’s Revised Model BIT: Two Steps Forward, One Step Back?,
Investment Claims, October 4, 2017
Available at: https://scholarship.law.columbia.edu/sustainable_investment_staffpubs/112