Investment pacts can’t be subject to foreign jurisdictions: FM - The Hindu

Investment pacts can’t be subject to foreign jurisdictions: FM - The Hindu

This is a timely assertion coming from the Finance Minister when confusion was getting confounded on account of diverse positions taken by central and state governments on issues which had stakeholders abroad. For a long time, it has been a ‘recognized’ practice for international organisations dominated by developed world to impose irrelevant and extraneous conditions while drafting bi-lateral and multi-lateral agreements involving less privileged nations. The question “Will you allow the Supreme Court of Canada be subject to jurisdiction of any other court or tribunal?” becomes relevant in this context. One hopes, going by the spirit of the position taken by the finance minister, India will, from now onwards, strive for a level playing field in other areas of bi-lateral and multi-lateral relationships with developed countries.

M G Warrier, Thiruvananthapuram

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