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 template overhaul in a decade could expedite India's ongoing negotiations for investment treaties with the UK, the European Union, Saudi Arabia, Qatar and Oman. Analysts reckon that India's strong growth outlook amid global turmoil will be a major positive for investors scouting for markets with high returns prospects. So, now is the right time to present a new template to woo investors, they said. Total foreign direct investment inflows into India fell from $84.8 billion in fiscal year 2022 (FY22) to $71.3 billion in FY24 before recovering to $80.6 billion in FY25 and a provisional $94.5 billion in FY26, Reserve Bank of India (RBI) data shows. However, net FDI-the difference between FDI inflows and outflows after accounting for repatriation of capital-fell from a peak of $44 billion in FY21 to sub-$1 billion in FY25. It was at about $4 billion in the first nine months of FY26, per provisional RBI data. The proposal is already with the Cabinet secretariat. "So, a decision will be made very soon," one of the officials said, indicating the template could be cleared in a month or two. "This template must also be read alongside India's push to sign new FTAs, part of a wider effort to position the country as a destination for global capital," said Aravind Srivatsan, senior partner and India tax leader at professional services firm Nangia Global....