New Delhi, March 4 -- India is set to revamp its model bilateral investment treaty (BIT) framework to attract as well as protect foreign investments, aligning with the evolving global investment landscape while guarding national interest, Chief Economic Adviser (CEA) V. Anantha Nageswaran said on Tuesday.

Addressing a post-Budget webinar titled 'Making India Investment Friendly', Nageswaran highlighted that the current BIT framework, which has not been updated in nearly a decade, is being revised to address modern challenges. He stressed that this update is essential due to significant changes in the global investment ecosystem and international laws since India last reviewed its BIT model.

"The new model BIT, therefore, will be more at...