India-UAE Bilateral Investment Treaty: A New Era of Economic Cooperation and Investor Protection
The Bilateral Investment Treaty (BIT) signed between India and the UAE on February 13, 2024, represents a significant milestone in the economic partnership between the two nations. As the earlier Bilateral Investment Promotion and Protection Agreement (BIPPA) neared its expiration, the BIT brings with it a renewed sense of stability, continuity, and assurance for investors from both countries. Coming into effect on August 31, 2024, this treaty underlines the importance of sustaining a secure, transparent investment environment. India and the UAE have long enjoyed a robust economic relationship, with the UAE ranking as India’s seventh-largest foreign direct investor. The cumulative investment of around USD 19 billion from the UAE into India and USD 15.26 billion of India’s investment into the UAE underscores the depth of their financial ties. In this context, the BIT not only safeguards existing investments but paves the way for future growth, particularly by offering key provisions tha...