Press Information Bureau

Government of India

Ministry of Commerce & Industry

22-August-2012 15:30 IST

The Government of India has received notices, under the Bilateral Investment Promotion and Protection Agreements (BIPAs), from foreign investors such as Sistema Joint Stock Financial Corporation, Vodafone International Holdings BV, Devas Employee Mauritius Pvt. Limited, Children’s investment Fund Management (U.K.) LLP etc.

The notices are handled under the provisions of the applicable BIPAs, including, inter-alia, through negotiations with the foreign investors for an amicable settlement of the issues.

This information was given by the Minister of State of Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply in the Rajya Sabha today.

DS/GK

Bilateral investment protection notices prompt government negotiations with foreign investors for amicable settlement under BIPAs. Notices from foreign investors under Bilateral Investment Promotion and Protection Agreements have been received and are being processed under applicable BIPA provisions; the State is engaging in negotiations with claimants to seek amicable settlement within the treaty-based dispute-resolution framework, as disclosed in a parliamentary reply by the Minister of State for Commerce and Industry.