India News | Talks on Proposed India-UK Bilateral Investment Treaty Still On: Official
Get latest articles and stories on India at LatestLY. Negotiations for the proposed bilateral investment treaty (BIT) between India and the UK are still on as both sides are yet to resolve certain outstanding issues, an official said.
New Delhi, May 6 (PTI) Negotiations for the proposed bilateral investment treaty (BIT) between India and the UK are still on as both sides are yet to resolve certain outstanding issues, an official said.
The two sides on Tuesday announced the conclusion of talks for the free trade agreement (FTA) and social security pact (officially dubbed as Double Contribution Convention Agreement).
"The BIT talks are still on," the official said.
Earlier, there were plans to conclude all three in parallel.
Issues that may need some more discussions included sunset clause in the BIT.
These investment treaties help in protecting and promoting investments in each other's countries.
India has earlier lost two international arbitration cases against British telecom giant Vodafone and Cairn Energy Plc of the UK over the retrospective levy of taxes.
India has received USD 35.65 billion in foreign direct investment from the UK during April 2000 and December 2024.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)