Britain has voted to leave the European Union. In a referendum held on Thursday (June 23), close to 52 per cent of Britons favored leaving the EU. The referendum results reveal that the arguments put forward by Brexiters found greater resonance with the sentiments of ordinary people than the ones put forward by pro-European camps, the establishment and world leaders.

Before the polls closed, the UK’s political establishment was expecting that overwhelming voters would vote to stay in the EU. In the same vein, most media analysts and market observers were predicting a win for Remain camp. Even Nigel Farage, leader of far right-wing UK…

On  April 29, 2016, India’s income tax department released tax statistics after a gap of almost 16 years. Till 2000, the tax department used to publish All India Income Tax Statistics but the publication was discontinued for some unknown reasons. No explanations were given by the authorities for the discontinuation of this publication despite numerous demands made for its release by Indian economists and researchers.

According to media reports, the government released this data after French economist Thomas Piketty, author of bestseller Capital in the Twenty-First Century, highlighted the need for greater data transparency to carry out research on income inequalities in India. During his trip…

A spate of mega-regional trade agreements with strong investment protection standards have been recently concluded or are currently under negotiations. The TPP (Transpacific Partnership) and TTIP (Transatlantic Trade and Investment Agreement) are prime examples of this growing trend. Way back in 1959, Germany and Pakistan signed the first Bilateral Investment Treaty (BIT) in the world. Without knowing, they marked a new era as many countries have followed their example since then. Currently, the international legal system that governs international investment flows consists of about 3000 BITs and other international investment agreements (IIAs).

In recent years, however, a large number of countries have faced costly international…

Tobacco giant Philip Morris lost a major international legal battle to reverse Australia’s tobacco plain packaging laws using the Australia-Hong Kong Investment Promotion and Protection Agreement (IPPA) of 1993. On December 17, 2015, a three-member arbitral tribunal at Permanent Court of Arbitration (PCA) issued an Award on Jurisdiction and Admissibility in connection to the case between Philip Morris Asia Limited and Australia.

The full text of tribunal’s Award is yet to be made public but media reports confirm that the tribunal unanimously supported Australia’s position that Philip Morris had no jurisdiction to bring the case against Australia. In other words, Australia’s plain packaging laws banning…

Following is the text of joint statement issued by African and Indian civil society organizations on the upcoming 10th Ministerial Conference of the WTO, which will take place during December 15-18, 2015 in Nairobi, Kenya. The statement was released on the occasion of the Third India-Africa Forum Summit held in New Delhi on October 27, 2015.

We, on behalf of civil society in Africa and India, write to you, the Heads of Governments in Africa’s 54 countries and India as you meet for the Third India-Africa Forum Summit (IAFS-III) through 26-29^th October in New Delhi, India. As you all deliberate on a ‘reinvigorated partnership-shared vision’,…