In September 2024, India and the Republic of Uzbekistan signed a Bilateral Investment Treaty (BIT) in Tashkent, aiming to enhance economic cooperation and create a robust investment environment.
The BIT between India and Uzbekistan assures appropriate protection to Uzbekistan investors in India and Indian investors in the Republic of Uzbekistan, in light of relevant international precedents and practices. It will increase the comfort level and boost the confidence of investors by assuring a minimum standard of treatment and non-discrimination, while providing for an independent forum for dispute settlement through arbitration.
The BIT also provides for protection to investments from expropriation, provides for transparency, transfers and compensation for losses.
However, while providing such investor and investment protection, balance has been maintained with regard to State’s right to regulate and thereby provides adequate policy space.
