Parliamentary panel invites view on Bilateral Investment Treaties

The Parliamentary committee on External Affairs has invited memoranda containing views and suggestions from stakeholders, industry representatives, experts as well as members of general public as it started examining the India’s Bilateral Investment Treaties (BITs).

Considering the importance and the significant implications of the matter, the committee, under the Chairpersonship of BJP MP P.P. Chaudhary, has fixed a twenty-one-day time schedule for people to submit their ideas and suggestions.

“All those desirous of submitting their views or suggestions to the committee may send their written memoranda, either in English or Hindi, on the subject to Director, Lok Sabha Secretariat within twenty-one days of publication of this Communique,” a Lok Sabha Secretariate statement said.

It is also informed that the memoranda submitted to the committee would form part of the records of the committee and would be treated as “confidential” and would enjoy privileges of the Committee.

“Those who wish to appear before the committee for tendering oral evidence, besides submitting memoranda, may specifically indicate so.

However, the committee’s decision in this regard shall be final,” said the statement.

India launched its BITs programme in 1994 as part of its overall strategy of economic liberalisation. To date, India has entered into more than 80 BITs.