Finance Minister Nirmala Sitharaman on Monday said a new template for bilateral investment treaties is ready and is expected to get Cabinet approval soon in a bid to make it more investor-friendly.
The new template, being prepared over the last one-and-a-half years, seeks to address shortcomings in the model approved in 2016 and provide sharper protection to investors from both sides, she said.
India has continued negotiations on investment protection agreements even as the new template is being finalised, she said at the Munich Security Conference here.
The latest agreement, with Saudi Arabia, goes beyond the 2016 framework and incorporates elements that are more sharply focused on protecting the interests of investors from both countries, she said.
India has also concluded similar agreements with the UAE, Oman and some Central Asian countries, Sitharaman said.
“We have a new template which will be approved shortly. But in the meanwhile, we’ve not halted the process. We are …
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