Which of the following statements correctly reflect India's recent (2024) economic diplomacy and domestic investment facilitation reforms? 1) The India-Uzbekistan BIT allows unconditional access to international arbitration without exhausting local remedies. 2) The National Infrastructure Readiness Index (NIRI) solely ranks Smart Cities and excludes private investment indicators.
Neither 1 nor 2 is correct
Statement 1 – Incorrect. The India-Uzbekistan BIT, signed on 27 September 2024, follows India’s 2016 Model BIT and requires investors to first pursue local remedies in the host state for at least 5 years before they can submit a claim to international arbitration. Access to arbitration is therefore conditional, not unconditional.
Statement 2 – Incorrect. “National Infrastructure Readiness Index (NIRI)” with the described scope is not a recognised official index of the Government of India. India’s actual investment-facilitation indices (e.g. Logistics Ease Across Different States, Ease of Doing Business State Rankings, the Industrial Park Rating System) are broader and explicitly include private-investment indicators.
Both statements are wrong. Hence, the correct answer is Neither 1 nor 2 is correct.
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