ABSTRACT
Investor-state dispute settlement (ISDS) in international investment law has come under scathing criticism for various reasons. This chapter introduces the debate on ISDS and the problems typically associated with the system. The ISDS system can be presented as a tale of two competing narratives: the Philip Morris narrative (ISDS unduly impedes the State’s sovereign right to regulate) and the Yukos narrative (ISDS is handy to hold States accountable for abuse of public power). India’s ISDS story should be understood, keeping these narratives in mind. The chapter introduces India’s overall experience with ISDS, including the six claims India lost, which are the focus of this book. It also describes India’s backlash against ISDS and discusses the empirical evidence on the relationship between India’s investment treaties and foreign investment inflows.
