The signing of the BIT between both nations will promote economic cooperation and create a more robust and resilient investment environment.
- It will increase the comfort level and boost the confidence of investors.
About BIT
- BIT is a reciprocal agreement for according protection to investments by nationals and companies of one State in another State.
- India approved new Model BIT text in 2015, which replaced Indian Model BIT, 1993.
- Since then, Model text 2015 is used for (re)negotiations of BITs and investment chapters of FTAs/ Economic Partnership Agreements.
- Key Features of Model BIT
- National Treatment: Similar treatment as domestic investors.
- Protection from expropriation: Limiting each country’s ability to take over foreign investments in its territory.
- Settlement of Disputes: Exhaust local remedies before commencing international arbitration.
- Other: Enterprise based definition of investment, etc.
 India - Uzbekistan RelationsUzbekistan is India’s key Partner in the Central Asian Region. Different dimensions of engagement includes
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