Finance Minister Nirmala Sitharaman has held discussions with Swiss President Guy Parmelin on issues of common interest to both India and Switzerland, including taking forward negotiations on the Bilateral Investment Treaty (BIT) which is mutually beneficial to both nations.
The meeting comes as India and Switzerland seek to strengthen bilateral economic ties and facilitate greater investment between the two countries. The discussions focused on advancing the BIT negotiations, which will help enhance investment flows and deepen economic engagement.
A Bilateral Investment Treaty is an agreement between the two countries to promote and protect investments made by their investors in the other's territory. Under investment protection treaties, investors can take a sovereign government to arbitration. With Outward Direct Investment (ODI) from India increasing, there is a need to ensure that domestic investors and companies investing abroad also get adequate protection.
