Imagining Space in India's Trade and Investment Agreements

Abstract

Indian economy has opened up significantly in the last two decades, especially since the initiation of the economic reforms in 1991. Domestic opposition within India to its joining international economies treaties such as the World Trade Organization (WTO) resulted in India aggressively pushing for various flexibilities in areas such as public health and access to drugs, local content measures, environmental standards and trade remedies. In recent times, India has signed comprehensive economic partnership agreements with developed economies such as Japan, South Korea and Singapore and is negotiating a trade and investment agreement with the EU and the Regional Comprehensive Economic Partnership (RCEP).

This paper provides an analysis of the focus and coverage of issues under various trade and investment agreements and areas where India has negotiated development space or policy autonomy. In addition, the paper discusses the recent claims made against India under various Bilateral Investment Promotion Agreements (BIPA) and the safeguards adopted by India while negotiating such new agreements or renegotiating or reviewing existing agreements. Based on this approach this paper seeks to contribute to the project that attempts to compare and contrast the multiple strategies adopted by Southern countries in regulating trade and investment.

Keywords: India; trade and investment strategies; multilateral trade agreements; Bilateral Investment Promotion Agreements.