Economy

Bending it for investors?

Print edition : February 20, 2015

Barack Obama and Narendra Modi at the India-U.S. business summit in New Delhi on January 26. Photo: Saurabh Das/AP

Cochabamba, Bolivia, 2000: A protest against the privatisation of water supply that led to hikes in water rates. When the Bolivian government reversed its decision following protests, it faced a compensation claim of $50 million from the water multinational AdT (formed by Bechtel and a consortium of investors) in a case filed with the International Centre for the Settlement of Investment Disputes, an independent international arbitrator. Photo: The Hindu Archives

The Obama visit has fuelled the government’s deep desire to woo foreign investors with major concessions, possibly in bilateral investment treaties. Probably an indication of this is the decision not to challenge the Vodafone judgment by the Bombay High Court on the claim made by the tax department in the transfer of shares case.
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