Union Cabinet clears BIT between India and Cambodia

Q.  Union Cabinet has approved BIT between India and Cambodia. What does BIT stand for?
- Published on 28 Jul 16

a. Bilateral Innovation Treaty
b. Bilateral Investment Treaty
c. Bilateral Income Treaty
d. None of the above

ANSWER: Bilateral Investment Treaty
 
Union Cabinet chaired by PM Shri Narendra Modi has given approval for the Bilateral Investment Treaty between India and Cambodia.
  • Treaty seeks to promote and protect investments from either country in the territory of the other country with the aim of increasing bilateral investment flows.
  • Treaty encourages each country to create favourable conditions for investors of other countries to make investments in territory and admit investments in accordance with laws.
  • This is the first such treaty in accordance with the text of the Indian Model Bilateral Investment Treaty approved by the Cabinet in December 2015.

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