US President Barack Obama’s second visit to India has resurrected hopes that the two countries will revive talks on the dormant but in-progress Bilateral Investment Treaty (BIT). A BIT is being eagerly sought by both sides — from the United States, to provide comfort to American companies that they will not be treated unfairly, and from India in the belief that it will help increase foreign investment inflows into the country.
But negotiating the many tripwires of the BIT will take time and effort.