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India and Bilateral Investment TreatiesRefusal, Acceptance, Backlash$
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Prabhash Ranjan

Print publication date: 2019

Print ISBN-13: 9780199493746

Published to Oxford Scholarship Online: August 2019

DOI: 10.1093/oso/9780199493746.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 18 January 2021



Throw the Bathwater, but Keep the Baby!

(p.351) 9 Conclusion
India and Bilateral Investment Treaties

Prabhash Ranjan

Oxford University Press

The concluding chapter shows that India’s approach towards BITs post 2010 has become protectionist. This protectionist approach towards BITs is divergent from India’s liberal foreign investment policy. India’s BIT practice needs to evolve in a manner that balances investment protection with the host state’s right to regulate. This is important as it would help India safeguard its regulatory power as a host nation and also to protect Indian investment abroad. India needs to evolve its investment treaty practice by developing BITs as tools that advance international rule of law and are modelled using the normativity of embedded liberalism. Embedded liberalism will represent a compromise between free markets and regulation, thus increasing the acceptability of BITs for all stakeholders such as foreign investors, the civil society and the sovereign state.

Keywords:   BITs, ISDS, international rule of law, embedded liberalism

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