Following a space of arbitration requests, including those involving Vodafone and Cairn Energy – the government had reworked the BIPA, which is unacceptable to most countries…reports Asian Lite News
The Indian government may offer flexibility to the UK on the model Bilateral Investment Protection Agreement (BIPA), even as it rushes to finalise the rules of origin that are meant to ensure that third country goods do not make use of the FTA provisions.
Unlike FTAs in the past , there is now discussion around “co-equal rule”, where exporters will be free to meet just one of the criteria.
The revenue department is looking at the issue, while the department of economic affairs in the finance ministry will have to make concessions on the model BIPA.
Following a space of arbitration requests, including those involving Vodafone and Cairn Energy – the government had reworked the BIPA, which is unacceptable to most countries.
In an interview, commerce & industry minister Piyush Goyal had indicated that there is scope for some flexibility, something that the finance ministry is working on and will depend on what India gets in return from the UK. The minister will separately meet ministers and officers from the EFTA nations.
“With the FTA negotiations gaining momentum, the visit aims to further propel the discussions and pave the way for a comprehensive and mutually beneficial agreement that would drive economic growth and strengthen ties between the two nations,” an official statement said.
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