Insights & Publications
© 2018 Debevoise & Plimpton LLP
India Disbands the FIPB and Endangers BITs: One Step Forward, Two Steps Back?
30 June 2017
View Client Update
India recently abolished the Foreign Investment Promotion Board, which was responsible for processing foreign direct investment (“FDI”) proposals requiring government approval. Individual ministries and departments are now empowered to approve FDI proposals, in consultation with the Department of Industrial Policy and Promotion.
Although this change is intended to provide greater timing certainty for FDI in India, practical implications for foreign investors need to be scrutinised over the coming months.
Despite its focus on promoting FDI, the Indian government recently issued termination notices to over 80% of its bilateral investment ("BIT") counterparties. Trading partners have been reluctant to accept new terms based on India’s new model BIT, leading to the presumed termination of 58 BITs, a cause for concern among foreign investors.
Arbitration & International Disputes
Mergers & Acquisitions
Geoffrey P. Burgess
William Y. Chua
Lord Goldsmith QC
View More Authors
European Funds Comment: Germany’s New Social Media Law: the Risk of Failing to Delete “Hate Speech”
U.S. Supreme Court Limits Enforcement of Terrorism-Related Judgments against Foreign Sovereigns
European Funds Comment: Marketing Private Funds in Europe May be About to Get Even Harder
European Commission Proposes Harmonised Pre-Marketing Rules for Funds
UK Modern Slavery Act Transparency Statement
Debevoise Women's Review