The Bilateral Investment Treaty between India and the UAE is now in effect.
International
The Bilateral Investment Treaty (BIT) between India and the United Arab Emirates (UAE) came into effect on August 31, 2024. This treaty was signed in Abu Dhabi on February 13, 2024.
- The BIT replaces the earlier Bilateral Investment Promotion and Protection Agreement (BIPPA), which expired on September 12, 2024. This ensures continued investment protection for investors from both nations. BIPPA was originally signed in December 2013.
- The India-UAE BIT 2024 includes a closed asset-based investment definition, fair treatment guarantees, ISDS provisions, exclusions for taxation, and protections against corruption and expropriation.
Main Points:- (i) The UAE ranks 7th among countries, accounting for 3% of the total Foreign Direct Investment (FDI) received in India. From April 2000 to June 2024, the UAE invested approximately USD 19 billion in India.
(ii) India’s Overseas Direct Investment (ODI) in the UAE amounts to USD 15.26 billion from April 2000 to August 2024.
Prime minister: Mohammed bin Rashid Al Maktoum
President: Mohammed bin Zayed Al Nahyan
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