New Delhi, Sept. 26 -- The Union Cabinet will shortly consider overhauling a decade-old bilateral investment treaty (BIT) template to make it easier for foreign companies to seek international arbitration arising from investment disputes in India, two government officials said. The plan aims to substantially trim the mandatory five-year timeframe to exhaust domestic legal remedies before pursuing international arbitration to settle disputes. The template won't include tax concessions that undermine sovereign policy-making authority, the officials said on condition of anonymity. India is eyeing sustained foreign investments for economic growth and to stabilize its currency amid mounting geopolitical conflicts. Once approved, the first BIT te...