Gupta, Suvrajyoti (2024) Addressing corruption: Reimagining India’s investment treaties. In: India’s bilateral investment treaties 2.0 : Perceptions, emerging trends, and possible architecture. Springer, Singapore, pp. 81-112. ISBN 978-981-97-3401-6
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The World Bank has defined corruption as “an abuse of public office for private gain”. It may include bribery, nepotism, quid pro quo, or similar acts in countless other forms. The weak accountability mechanisms in transnational anti-corruption instruments like the United Nations Convention against Corruption 2003 (UNCAC) and the Organisation for Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions 1997 (the Anti-Bribery Convention) have led both states and private parties to take recourse to the International Investment Agreements (IIAs) to agitate corruption-related issues. Despite anti-corruption clauses in the IIAs, certain issues remain unresolved. In the case of India, there are two issues in particular, namely (a) lack of effective enforcement of anti-corruption norms and (b) arbitrary or excessive reactions from judicial authorities that are unsustainable before international tribunals. Other than creating carve-outs for judicial actions in some of its past IIAs and the Model BIT of 2015, India’s treaty practice is not clear in this regard. At present, India’s core interests as the host state and the home state of outbound investment are served by structured integrity clauses. In this context, the chapter analyses the issues related to corruption in India in the light of the transnational character of the issue. The chapter concludes that ideation and capacity building around the intersection of corruption and investment law ought to be a core component of “reimagining” India’s investment treaty practice.
Item Type: | Book Section |
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Subjects: | Social Sciences and humanities > Social Sciences > Social Sciences (General) Social Sciences and humanities > Social Sciences > Law and Legal Studies |
JGU School/Centre: | Jindal Global Law School |
Depositing User: | Subhajit Bhattacharjee |
Date Deposited: | 27 Aug 2024 10:04 |
Last Modified: | 27 Aug 2024 13:50 |
Official URL: | https://doi.org/10.1007/978-981-97-3401-6_4 |
URI: | https://pure.jgu.edu.in/id/eprint/8345 |
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