Globalisation is at a dangerous crossroads. One path leads to regained policy-space for governments to address climate change, inequality and other pressing issues of our times. The other leads to more rights for corporations to bully decision-makers.
A successful conclusion of FIPA will provide a much-needed cover for Canadian investments in India and vice versa, and is expected to be an important catalyst in translating the announcements into reality.
India, along with Brazil, Argentina and some other nations, has rejected an informal attempt by the European Union and Canada to work towards a global investment agreement that would incorporate a contentious ISDS mechanism.