The training sensitised stakeholders about International Investment Law, with a focus on Bilateral Investment Treaties (BITs), standards of treatment, investor-state obligations, dispute resolution mechanisms, and current legitimacy challenges in international investment law

The Investment Division in the Department of Economic Affairs (DEA), Ministry of Finance (MoF), organised a one-day training programme on ‘International Investment Law and Dispute Resolution’ in today, New Delhi. The programme was inaugurated by Dr. R.J.R. Kasibhatla, Additional Legal Advisor, Department of Legal Affairs, Ministry of Law and Justice.

The training programme was organised to sensitise stakeholders from different Ministries/Departments about International Investment Law, focusing on Bilateral Investment Treaties (BITs), standards of treatment, investor-state obligations, dispute resolution mechanisms, and the current legitimacy challenges in international investment law. The programme also addressed practical measures to prevent and manage international investment disputes.

The sessions during the training programme were led by Ms. Preeti Jain, Director, DEA, and legal experts including Mr. Shravan Yammanur; Dr. Argha Kumar; Ms. R.V. Anuradha; Ms. Ramya Raman; and Mr. Shivam Dwivedi. The programme witnessed active participation from officials of Department of Economic Affairs, Department of Financial Services, Department of Commerce, Department for Promotion of Industry and Internal Trade, Department of Investment and Public Asset Management, Department of Expenditure, and Department of Revenue.

International Investment Law (IIL) plays a critical role by providing a legal framework for the protection and regulation of foreign investments. Given the complexity of the subject, it is essential for officials involved in international business, trade, and law to stay updated on evolving principles, treaty obligations, and mechanisms for resolving disputes.

The training sessions provided participants valuable insights into some of the key concepts of BITs such as National Treatment (NT), Most-Favoured-Nation (MFN), Fair and Equitable Treatment (FET), and Full Protection and Security (FPS), along with the intricate balance between state obligations and investor rights. The discussion also explored the legitimacy crisis surrounding Investor-State Dispute Settlement (ISDS) mechanisms, while shedding light on the evolving landscape of dispute resolution, handling of international investment disputes and practical ways to prevent unnecessary disputes.

Participants engaged with the topics enthusiastically, posing thought-provoking questions that reflected their keen interest and understanding of the subject matter. Their inquiries ranged from the implications of India's recent BITs to strategies for effectively managing investment disputes. The interactive nature of the sessions enriched the learning experience, fostering a dynamic exchange of ideas on the International Investment Law and dispute resolution mechanisms.

Investor State Dispute Settlement reform: training stresses aligning state obligations and investor protections and dispute prevention. The training focused on Bilateral Investment Treaty standards-National Treatment, Most Favoured Nation, Fair and Equitable Treatment, and Full Protection and Security-and on aligning state obligations with investor protections to prevent and manage investor-state disputes, while addressing procedural features and legitimacy concerns of Investor State Dispute Settlement and practical dispute prevention and case management approaches.