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VOLUME VI ISSUE II (2019)
(Theme:- TRANSNATIONAL ASPECTS OF FINANCIAL AND MERCANTILE LAW)
CROSS BORDER DATA PROTECTION AND E-COMMERCE
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Mayank Singhal
The author is third-year B.A. LL.B. (Hons.) FYIC, at Rajiv Gandhi National University of Law, Punjab, Patiala
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The instant paper throws light on the consistent increase in data generation due toan increase in e-commerce activities around the globe. It highlights the need for cross-border data protection and critically analyzes the draft e-commerce policy released by the Department for Promotion of Industry and Internal Trade. It points out the flaws in the current policy and terms it excessively wide in scope, unnecessarily protectionist, biased towards local enterprises, and overlapping with the Date protection Bill, 2018. Lastly, it provides constructive suggestions for the creation of a more comprehensive&unbiased policy with clearer provisions so as to avoid unfavorable consequences in the future.
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Alok Chaurasia and Chitresh Baheti
The authors are fourth-year B.A. LL.B. (Hons.)F YIC candidates at Dr. Ram Manohar Lohiya National Law University, Lucknow
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The article highlights the role played by the trusts and their participants in investment treaty arbitration. It revolves around the operability and effectiveness of the arbitration clause for adjudicating matters pertaining to trust and related parties. At first, the article establishes the relationship between the settlor, trustee & beneficiary for the creation of the trust.The author(s) discusses the claims arising out of breach of the provision of the investment treaty. Further, the article highlights the ‘claimant’s conundrum’ while referring to investment arbitration proceedings. The arguments are substantiated by leading precedents to settle the debate on the applicability of the relevant laws of the contracting parties. While concluding, the author(s) suggests a case-to-case basis approach instead of relying on past precedents in order to determine the diversity of issues of the investment treaty.
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INVESTMENT RULEMAKING & GOOD GOVERNANCE INTERNATIONAL INVESTMENT ARBITRATION
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by Dr. Rosmy Joan
The author is working as Assistant Professor of Law, National Law University, Jodhpur
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The article highlights the role of the State in investment rule-making while striking a balance between the right of the investors and the regulatory autonomy of the State. At first, the paper explains the historical background of foreign direct investment and the establishment of regulatory bodies to govern foreign companies. Further, at the secondary stage, the author(s) explains the role of investment protection treaties to be an instrument to promote good governance. The article highlights the functions of the State to establish investor-home State obligations to controlthe economy of the country. On concluding lines, the article stresses on the flexible approach of the current legal framework in the field of foreign investment.
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INDIA’S FOREIGN DIRECT INVESTMENT INFLOWS: A POLICY ASSESSMENT
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Jasmine Kaur
The author is working as Assistant Professor of Economics, Rajiv Gandhi National University of Law, Punjab, Patiala.
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This paper traces India’s approach towards FDI from the post-independence period to contemporary times. It discusses the impact of the Foreign Exchange Regulation Act (FERA), 1973 which was later replaced by a comparatively less stringent act, i.e.; the Foreign Exchange Management Act, 1999 (FEMA). It analyses the two FDI routes: automatic and approval, established by FEMA, by highlighting the contributions of the Foreign Investment Promotion Board (FIPB). It brings to attention the economic shift brought by FDI Policy 2015 &the recent developments that have taken in FDI in different sectors due to initiatives like ‘Make in India’. Lastly, it criticizes India’s consistent lower rank in the competitive Index, low infrastructure, high tax policies, and procedural delays as they overshadow the benefits of increasing FDI over the years. It concludes with generic recommendations like tax reduction, elimination of corruption & red-tapism for enhancing the FDI situation in India.
TRANSNATIONAL CORPORATIONS AS A MENACE TO THE ENVIRONMENTAL DEVELOPMENT
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by Ayush Verma
The author is Ph.D. Candidate, Dr. Ram Manohar Lohiya National Law University, Lucknow
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The article highlights the twin impact of Transnational Corporations with respect to economic development and environmental degradation. The author(s) while explaining the role of non-state corporate entities traces the historical evolution of transnational corporations from 16th century Europe to 20th Century USA. Further, the article talks about the effect of transnational corporations on global environmental degradation. While explaining the role of sustainable development, the article discusses the disastrous role of environmental geopolitics and an urgent need for an international framework to regulate transnational corporations. Further, the author(s) provides insights into the market tactics adopted by the corporations to enter the businesses of developing nations. On a concluding note, the author(s) suggested the formation of legally binding treaties to hold various international corporate houses accountable for the chaos they are making with relation to the environment.