Bilateral Investment Treaty between India and the United Arab Emirates comes into effect
The Bilateral Investment Treaty (BIT) signed on 13 th February, 2024 at Abu Dhabi, UAE between the Government of the Republic of India and the Government of the United Arab Emirates (UAE), entered into force with effect from 31 st August, 2024. The enforcement of this new BIT with UAE gives continuity of investment protection to investors of both the countries, as the earlier Bilateral Investment Promotion and Protection Agreement (BIPPA) between India and UAE signed in December 2013 expired on 12 th September, 2024. UAE is the seventh largest with a share of 3% in the total Foreign Direct Investment (FDI) received in India, with cumulative investment of approximately $19 Billion from April 2000- June 2024. India also makes 5% of its total Overseas Direct Investments in UAE to the tune of $15.26 Billion from April 2000 - August 2024. India – UAE BIT 2024 is expected to increase the comfort level and boost the confidence of the investors by assuring minimum standard of treatmen