India-UAE investment treaty implemented from Aug 31, 2024: FM Sitharaman

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India-UAE investment treaty implemented from Aug 31, 2024: FM Sitharaman - Business Standard

Quick Summary:

Enforcement of this pact with the 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 the UAE signed in December 2013 expired on September 12 this year.

The government on Monday said bilateral investment treaty (BIT) signed between India and the UAE has been enforced from August 31 this year.

The BIT was signed on February 13 this year at Abu Dhabi, UAE, and it entered into force with effect from August 31, 2024, the finance ministry said.