GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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International Center for Settlement of Investment Disputes was established in
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1966
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1970
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1957
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1968
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Explanation:
Detailed explanation-1: -ICSID was established in 1966 by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention).
Detailed explanation-2: -While the International Centre for Settlement of Investment Disputes (ICSID) is headquartered in Washington, D.C., its footprint is truly global.
Detailed explanation-3: -Yet, India never became a signatory State to the ICSID Convention. Whereas it seems like the predominant reason for this decision was the little exposure of India to investment disputes, in 2000, the Indian Council for Arbitration recommended that India should refrain from becoming a signatory to ICSID.
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