India to Overhaul Bilateral Investment Treaty Model to Increase Foreign Investment

Finance Minister Nirmala Sitharaman said that India plans to overhaul its existing model Bilateral Investment Treaty (BIT) to make it more investor-friendly. The initiative is aimed at attracting long-term foreign investment and is in line with the "First Develop India" program. This follows as India signed BITs with two nations last year, including the UAE and Uzbekistan. The overhaul is significant because very few countries have adopted India's current model, and the majority of developed nations have had second thoughts about dispute resolution provisions. India is now in talks with the UK, Saudi Arabia, Qatar, and the EU to sign BITs, reflecting a transition towards more globally friendly investment standards.
Source: Union Budget 2025 announcement, as per Deccan Herald and News18