Summary:

India and Uzbekistan have signed a Bilateral Investment Treaty (BIT) to increase investor trust in both countries. The BIT, signed in Tashkent by Union Minister Ms. Nirmala Sitharaman and Deputy Prime Minister Mr. Khodjayev Jamshid Abdukhakimovich, provides crucial investment protection while adhering to international norms. It seeks to enhance investor comfort by establishing basic treatment standards, enforcing non-discrimination, and allowing for independent arbitration in dispute settlement.

The BIT protects investments against expropriation and encourages transparency, facilitating transfers and compensation for losses. While protecting investors, it balances state regulatory rights, providing crucial policy flexibility. This agreement represents a commitment to strengthen economic cooperation and create a robust investment climate, which is projected to stimulate bilateral investments. Notably, India's Overseas Direct Investment (ODI) in Uzbekistan totaled $20 million between April 2000 and August 2024, focusing on a variety of sectors.

Source: IBEF 

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