India sends termination notices to 68 countries with a request to renegotiate

In March 2023, it was reported that the Government of India had sent out 68 notices of termination regarding its existing bilateral investment treaties (BITs).

It is understood that the termination notices were accompanied by requests to renegotiate on the basis of the 2015 India Model BIT.

The developments regarding the termination of the old stock of Indian BITs are a welcome development, signalling the country’s readiness to tackle the issue of old-generation BITs. The old-generation BITs, signed mostly in the 1990s and early 2000s, are among the main obstacles to effectively reforming the international investment regime.