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The Investment Chapter in the India-EFTA Free Trade Agreement : Is it a 100 billion Dollar deal?
No full texthe investment chapter in the free trade agreement (FTA) signed between India and the European Free Trade Association or EFTA – a block comprising Switzerland, Norway, Iceland, and Liechtenstein – contains some novel provisions, such as an attempt to quantify the investment that the EFTA states will make in India – USD 100 billion in fifteen years. This has prompted many to describe this as a 100-billion-dollar deal. Another key provision in the investment chapter is that it arguably allows India to retaliate against the EFTA states if the investment does not materialize. . However, a close reading of the treaty provisions shows that the so-called ‘obligation to invest’ of the EFTA states in India is an obligation of conduct, not result. Moreover, the possibility of India’s retaliation is steeped in bureaucratic procedures and contingent on several factors, which makes it practically unworkable. The article also highlights the conspicuous absence of investment protection features in the investment chapter of the India-EFTA FTA. While this is consistent with India’s defensive approach to international law on investment protection and not including such provisions in its recent FTAs, it will pose challenges to EFTA investors due to the high risks of doing business in India
Transforming Traditional Outsourcing Models: The Disruptive Impact of AI
No full textThis chapter explores the transformative impact of Artificial Intelligence (AI) on traditional outsourcing models, highlighting both the disruption and opportunities AI presents for the outsourcing industry. As AI technologies automate routine tasks and enable data-driven decision-making, outsourcing providers are evolving from cost-centric service providers to strategic partners in digital transformation. The chapter examines how AI-driven models, such as automation, predictive analytics, and machine learning, are reshaping outsourcing functions, offering businesses greater efficiency, innovation, and customization. However, the shift to AI-powered outsourcing also introduces challenges related to workforce displacement, ethical concerns, and the need for new governance frameworks. The future of outsourcing will depend on the ability of providers to adapt to AI technologies, upskill their workforce, and address the social and regulatory implications of AI adoption
Global work arrangements and outsourcing in the age of AI
No full textThe rise of AI has reshaped outsourcing and work arrangements in global businesses, transforming how businesses operate and allocate tasks across borders. The use of AI in automation and intelligent workflow management, which enables companies to streamline operations, reduces costs and enhances productivity. While outsourcing has long been a strategy for optimizing labor costs and accessing specialized talent, AI further revolutionizes this landscape by automating routine tasks and augmenting human capabilities. Further exploration may reveal new applications of intelligent technology in the global workforce.
Global Work Arrangements and Outsourcing in the Age of AI explores the transformations of global business and workplace environments. It delves into the roles of technology, environmental considerations, mental health, regulatory frameworks, and corporate social responsibility in shaping the future of work, providing an understanding on how work models can adapt to meet development goals. This book covers topics such as resource AI, global development, and sustainability, and is a useful resource for academics, policymakers, business owners, and environmental scientists
Environmental, Social, and Governance Framework and its Interaction with Climate Laws in India
Get PDFThe evolution of Environmental, Social, and Governance (ESG) disclosures in India reflects the growing importance of sustainable and responsible business practices that transcend traditional corporate social responsibility practices. These practices have been driven by regulatory changes, voluntary initiatives, and the emphasis on ESG factors in corporate decision-making. The ongoing attempts to strengthen the effectiveness of ESG disclosures in India reflect a gradual but determined progression towards several stakeholders working together to factor ESG considerations into corporate practices and reporting effectively. India’s ESG framework can potentially contribute to a legislative framework tackling climate change. Through this paper, the authors analyse the interaction between ESG and climate regulations in India with a focus on Sustainable Development Goals. This interaction between regimes in India is growing and can be traced to India’s international commitments and national regulations. The authors demonstrate that the ESG framework currently interacts with both climate mitigation and climate adaptation, operating as a potential tool to conciliate corporate climate action. Further, it can strengthen corporate governance and corporate responsibility in addressing climate chang
The Commercial Courts (Amendment) Bill, 2024 : a pathway to efficient dispute resolution in India
Get PDFThe Government of India enacted the Commercial Courts Act in 2015, with an aim to ensure the resolution of commercial cases expeditiously, efficaciously, and at a reasonable cost. The Act was amended in 2018 to introduce various provisions such as mandatory pre-institution mediation, the establishment of commercial courts at the district level, and the reduction of pecuniary jurisdiction from one crore rupees to three lakh rupees. These amendments aimed to improve India’s ranking in the World Bank’s ‘Doing Business Report’, which considers the dispute resolution environment as one of the key parameters for assessing business friendliness. It is evident that the legislature is proactively trying to broaden the scope of the Act by enabling the courts to handle commercial disputes more effectively, encouraging out-of-court settlements, and creating an investment-friendly environment in India. With this aim, the Department of Legal Affairs proposed the Commercial Courts (Amendment) Bill, 2024, to further expedite the commercial dispute resolution process and simplify applicable procedures. While the proposed bill is well-thought and well-intentioned, it leaves rooms for addressing certain additional areas in greater detail.This blog aims to highlight the gaps in the bill that require further consideration
Amendment bills to disqualify ministers make us rethink why Union Territories deserve more protection
No full textThe recently introduced three amendment bills – referred to the Joint Parliamentary committee – proposing the disqualification of ministers detained beyond 30 days for offences with a minimum five-year sentence have invoked much debate and scrutiny. They have been criticised for their potential to destabilise opposition ruled state governments and encourage defections. However, missing from the conversation is how certain Union Territories continue to remain awkward appendages of Indian federalism, rather than equal participants. Their position in the Indian federal scheme seems to remain unequal to the states, and the survival and design of their legislative assemblies continue to be open to repeal or amendment by way of a simple parliamentary majority. Against this backdrop, the recourse, we argue, is the introduction of the doctrine of constitutional statutes in India, a conversation that remains largely confined to those researching constitutional law in the legal academia. These three bills make this doctrine indispensable to protecting our federalism and democracy
Does Price Discovery Process Hold during Post-COVID Period in Cryptocurrency? Evidence from Bitcoin
Get PDFWith the introduction of derivatives contracts in the market, it is expected that these instruments will assist the markets with price discovery mechanism. The price discovery mechanism enables the spot market to assess the future expectations of the market by assessing the trends in the prices of futures contracts of underlying securities. Since the inception of derivative contracts on bitcoin in 2017, the derivative market has witnesses significant surge in overall trading volumes and turnover. With more contacts being traded in bitcoin futures, it becomes imperative to assess whether this is leading to price discovery process or not. The world has also witnessed the COVID-19 as black swan event in past few years and it is equally important to assess whether there is any impact of COVID-19 on the price discovery process in bitcoin market. In view of this, the present study tries to assess the impact of COVID-19 on price discovery process on bitcoin. The study considers the daily time series data of bitcoin and bitcoin future from 2017 to 2024 and applies standard time series econometrics methods including test of stationarity, Johnsen co-integration test, vector error correction mechanism and Wald test to assess the long-run and short-run causality between bitcoin spot and future contracts. The results of the study suggest that price discovery is taking place in bitcoin market and Covid-19 has no significant impact on the price discovery process in bitcoin
Fluctuations in sediment blue carbon density associated with land use changes and mangrove distribution along the semiarid, rapidly industrializing coastline of India
No full textMangrove ecosystems can sequester blue carbon, yet anthropogenic activities increasingly threaten it’s habitat and carbon storage capacity. The blue carbon sequestration potential of mangroves is an underexplored avenue in climate change science. The sustainable development goal (SDG)13 strongly emphasizes the need to reduce carbon emissions, whereas SDG 14 focuses on conserving coastal and marine ecosystems Understanding mangroves’ essential ecosystem services, primarily ‘blue carbon’, distributed in different climatic zones is being prioritized by academics and policymakers. The Indian subcontinent is endowed with mangroves along its different coasts; however, the semiarid mangrove patches only exist in the western Indian district of Kachchh and are largely, unexplored. In our present study, we conducted a comprehensive assessment of sediment carbon stocks across multiple sites subjected to varying degrees of industrialization, urbanization, and agricultural encroachment along the coastline of Kachchh mangroves. Sediment cores were obtained from mangrove areas categorized as pristine, moderately impacted, and heavily industrialized to measure organic carbon content and assess its relationship with Normalized Difference Vegetation Index (NDVI). The approach aimed to evaluate variations in the blue carbon pool concerning different land use patterns. Seasonal sampling of mangrove sediments was conducted in both anthropogenically impacted and unaffected zones, with the resulting data analyzed using a three-way ANOVA (analysis of variance) within GLM (general linear model). A relationship was observed between anthropogenic activities and values of organic carbon density (OCD) and blue carbon pool. Respite of Mangrove restoration activities, the human intervention led to lower OCD values (1.2 % and 1.4 %, S. E. = ±.56) near industrial activity zones. This calls for combined efforts from all sectors to restore these fragile ecosystems in the region. The contributing role of mangroves as blue carbon sink is important in the fight against climate change
(Geopolitical) Water : sovereignty, equity, and the limits of global water governance frameworks
No full text“When the well’s dry, we know the worth of water”, writes Prof. Eckstein (2017) while commenting upon ILC’s draft articles of the “Law of Transboundary Aquifers”, but it fails to highlight the geographical context of those wells. Water, a crucial resource that has been normatively trifurcated as i) Weapon, ii) Casualty and iii) Trigger by Prof. Gleick (2019) and other academicians, presents a massive challenge in the applicability of legal frameworks for transboundary governance of water (whether surface or ground). The nature of the Watercourse Convention of 1997 varies massively from the Law of Transboundary Aquifers, 2008, as it is a guiding framework to enhance bilateral or multilateral treaties about water that does not constitute a part of international watercourses and its related aquifer. It is a considerable step towards holistic governance of one of the most crucial global common resources. However, it loses its effective applicability to “too much flexibility, Eurocentric scope and a language entrenched in neutrality (Godara et al., 2024). The principle of sovereignty in the Law of Transboundary Aquifers reflects the state’s reluctance to accept the principle of equity regarding transboundary aquifers’ governance rather than based on geography. Nonetheless, the idea of sovereign control did not appear in the Watercourse Convention 1997. As per the Watercourse Convention, an aquifer which forms a geological relationship with surface water of a transboundary nature shall be governed beyond the scope of sovereign control. Such a categorisation complicates and creates a scope for conflicting dual application in the face of inevitable hydrologic and technological reality where visibly defined aquifers do not exist or cannot be identified due to technological limitation. Through doctrinal framework analysis of both legal frameworks, this chapter highlights a structural and ideational incompatibility rather than proposed or enhanced synchronisation. The burden of such incompatibility is geographically uneven, with more impacts registered in Global South on databases such as Water Conflict Chronology and Environmental Justice Atlas. While paper also introduces theory of Hydro Hegemony, which explains hydropolitical maneuvering by watercourse states which have negatively hampered the aim of water governance frameworks and their geopolitical consequences (different for ally and adversary). It is too early to foretell if water will become a basis for future wars without precedents. However, that must not block the pursuit of exploring answers to its structural and ideational shortcomings
Precision Partnerships: Fostering Fintech Innovation Ecosystem in India
Get PDFThe Indian fintech ecosystem is evolving rapidly due to the advancement of technology and government support. However, it also faces a high startup failure rate due to limited access to funding, regulatory hurdles, and a lack of structured guidance. Research shows that up to 90% of startups fail during their initial 5 years.1,2 The research by Manmeet Kaur, Wasim Ahmad, K S Hari, and Ruth Kattumuri provides a potential solution.3 It highlights how incubators and accelerators can serve as enablers in the fintech entrepreneurial ecosystem, significantly increasing the chances of startup survival and funding success. For CFOs and CEOs of early to mid-stage startups and venture capitalists alike, the findings underscore the strategic value of engaging with these ecosystem partners early in their journey. Additionally, the integration of human-AI collaboration further enhances decision-making, allowing startups to innovate more responsibly while managing risks effectively