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International Investment Agreements and Regulatory Discretion: Case Study of India

International Investment Agreements and Regulatory Discretion: Case Study of India I INTRODUCTION IlAs are agreements signed at the bilateral, regional or multilateral level by two or more countries to protect investments made by one country's investors in the other country.� Apart from protection of investments, IlAs also seek to generate amiable conditions for greater investment flows.'- Another significant aspect of IIAS is that they restrict the regulatory discretion of the signing countries by imposing conditions that prohibit certain types of conduct such as discriminating amongst foreign investors or favouring domestic investors over foreign investors. Hence, it requires the signing countries to exercise regulatory discretion in accordance with the provisions of the IIA. The degree of restriction depends on the provisions of an IIA and varies from treaty to treaty. This paper analyses the linkages between IIA and regulatory discretion with respect to India.3 It examines certain features of the Indian IlAs and studies the interplay between these provisions and the regulatory discretion of India. Before one looks at the reasons for choosing India as a case study and the provisions of Indian IIAS, it is pertinent to briefly understand why countries endeavour to attract foreign investment in the first place and how is this related to IIAS. Countries http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

International Investment Agreements and Regulatory Discretion: Case Study of India

Journal of World Investment and Trade , Volume 9 (2): 35 – Jan 1, 2008

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190008X00160
Publisher site
See Article on Publisher Site

Abstract

I INTRODUCTION IlAs are agreements signed at the bilateral, regional or multilateral level by two or more countries to protect investments made by one country's investors in the other country.� Apart from protection of investments, IlAs also seek to generate amiable conditions for greater investment flows.'- Another significant aspect of IIAS is that they restrict the regulatory discretion of the signing countries by imposing conditions that prohibit certain types of conduct such as discriminating amongst foreign investors or favouring domestic investors over foreign investors. Hence, it requires the signing countries to exercise regulatory discretion in accordance with the provisions of the IIA. The degree of restriction depends on the provisions of an IIA and varies from treaty to treaty. This paper analyses the linkages between IIA and regulatory discretion with respect to India.3 It examines certain features of the Indian IlAs and studies the interplay between these provisions and the regulatory discretion of India. Before one looks at the reasons for choosing India as a case study and the provisions of Indian IIAS, it is pertinent to briefly understand why countries endeavour to attract foreign investment in the first place and how is this related to IIAS. Countries

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2008

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