The signing of the BIT between both nations will promote economic cooperation and create a more robust and resilient investment environment. 

• It will increase the comfort level and boost the confidence of investors. 

About BIT

• BIT is a reciprocal agreement for according protection to investments by nationals and companies of one State in another State.
• India approved new Model BIT text in 2015, which replaced Indian Model BIT, 1993.
  • Since then, Model text 2015 is used for (re)negotiations of BITs and investment chapters of FTAs/ Economic Partnership Agreements.
• Key Features of Model BIT 
  • National Treatment: Similar treatment as domestic investors. 
  • Protection from expropriation: Limiting each country’s ability to take over foreign investments in its territory.
  • Settlement of Disputes: Exhaust local remedies before commencing international arbitration.
  • Other: Enterprise based definition of investment, etc. 

India - Uzbekistan Relations Uzbekistan is India’s key Partner in the Central Asian Region.  Different dimensions of engagement includes  Economic relations: India is among Uzbekistan's top 10 trade partners (2023-24). Security and Defense cooperation: E.g. Joint military exercise "DUSTLIK". Multilateral engagement: Both countries cooperate in various international forums like the UN, G20, BRICS, and SCO. Energy Security: Signed contract with Uzbekistan for supplying uranium ore concentrates. People-to-people ties: There's an estimated Indian community of 14,000 in Uzbekistan.