The scope of consent to arbitration is an important issue that needs to be finally settled - not least because it could have multi-billion dollar implications for India in respect of other cases involving challenges to India’s taxation measures by foreign investors.
India’s pullout from the RCEP, like the prior U.S. withdrawal from the Trans-Pacific Partnership, has made a situation for Japan.
Indian currently has no plans to launch talks with Taiwan for a trade deal contrary to speculations that Delhi may launch trade dialogue with Taipei that drew sharp reaction from China.
China asked India to approach ties with Taiwan “prudently and properly” and said it would “firmly oppose” any official exchanges between New Delhi and Taipei.
Narendra Modi government is also proactively stepping up its efforts to rejig India’s trade relations with the rest of the world by overhauling its Free Trade Agreement or FTA strategy.
Both sides also agreed to expedite their internal procedures for signing and ratification of the Protocol amending India-Oman Double Taxation Agreement and conclusion of the India-Oman Bilateral Investment Treaty.
Official sources said both sides are looking at firming up a bilateral investment protection treaty.
In November 2019, India pulled out of the deal primarily through concerns of dumping of manufactured goods from China and agricultural and dairy products from Australia and New Zealand, potentially affecting its own domestic industrial and farming sectors.
Ministers from 15 Asia-Pacific countries negotiating a sprawling free trade agreement urged India on Wednesday to return to the talks as they are aiming to sign a deal by the end of the year, a Japanese official said.
Union Commerce & Industry Minister Piyush Goyal on Wednesday said that trade & economy is one of the most important pillars of India- European Union (EU) partnership, and India is looking forward enhancing this relation.
The Indian government plans to contest the judgement on the Vodafone arbitration award in Hague.
Prime Minister Narendra Modi and his Denmark counterpart Mette Frederiksen agreed to work towards an early conclusion of the bilateral broad-based trade and investment agreement.
Cairn is seeking full restitution for losses resulting from the expropriation of its investments in India in 2014.
India will try and keep its taxation laws out of the ambit of all Bilateral Investment Treaties (BITs) and comprehensive economic pacts that it negotiates.
Philippines and India have agreed to consider forging a bilateral preferential trade agreement to take advantage of the huge untap potential for a strategic partnership in the region.
India’s insistence on reviewing its free trade agreement (FTA) in goods with the ASEAN region may not be done as quickly as it hopes, as most of the Southeast Asian nations are reluctant to immediately start getting into the nitty gritty of negotiations.
With India, Australia and Japan intent on pursuing their arrangement in parallel, the road looks relatively clear for an RCEP accord in November. Even if there are still a few points of contention, the 15 countries may sign an "agreement in principle".
Vodafone Group Plc’s big win against the Indian government could set a precedent for similar arbitration cases, including the one initiated by Cairn Energy Plc.
Vodafone won an international arbitration case against the Indian government, ending one of the most high-profile disputes in the country involving a $2 billion tax claim.
Despite India being an important partner for the US geopolitically, a bilateral free trade agreement (FTA) is unlikely in the next four years regardless of who wins the upcoming presidential elections