INDEX I. INTRODUCTION II. INTERNATIONAL INVESTMENT: AN OVERVIEW; A. Economic Aspects of International Investment Agreement; B. International Investment and Role of Multinational Corporations; C. International Investments: Legal Implications; 1. Distinguishing Characteristics of International Investment Agreement; a. Reasons for Separate Treatment of International Investment Agreement; 2. International Legal Regime for FDI; 3. Approach Towards Regulation Of Transnational Investment; a. UNCTAD Norms on Multinational Corporations; b .UNCTAD Draft Code and Imperative Issues; c. The World Bank Guidelines on Foreign Investment; d. ICSID; e. Bilateral Investment Treaties; f. Reasons for Bilateral Investment Treaties; g. Features of Bilateral Investment Treaties; III. ICSID CHIEF CHARACTERISTICS AND SOME ISSUES; A. Brief Background; B. Apolitical Settlement of Disputes; C. ICSID: Chief Characteristics; 1. Nearly Universal Acceptance of ICSID; 3. High-quality Arbitrators; 4. Cost-effectiveness; 5. Scope for Contract Renegotiation; 6. ICSID and Conflict Avoidance; 7. Institutional Control Mechanisms; 8. Balance of Certainty and Flexibility in ICSID Rules; 9. Effectiveness of ICSID System; 10. Jurisdiction; 11. Applicable Law; 12. Enforcement Provisions; IV. ICSID AND DEVELOPING COUNTRIES: ANALYSIS OF JURISDICTION AND APPLICABLE LAW IN THE CONTEXT OF ICSID AWARDS; A. JURISDICTION; 1. Who can submit a Dispute to ICSID; 2. Ratione Personae; a. Contracting States; b. Constituent Sub-divisions; c. National of another contracting state; d. Locally-Incorporated Entities; 3. Ratione Material; a. Meaning of Legal Dispute; b. Investment; 4. Consent; a. Expression of Consent; b. Scope of Consent to Submit to Arbitration Claims; c. Consent of the Claimants; C. APPLICABLE LAW 1. Relationship between Domestic Law and International Law; 2. Ex aequo et bono; V. WHETHER INDIA SHOULD BECOME A PARTY TO ICSID? A. Reasons for India N Signing the ICSID Convention; B. Recognition and Enforcement of ICSID Awards; 1. No Review by Domestic Courts; 2. The Execution of ICSID Awards; 3. Rectification and Annulment; 4. ICSID as an Unbiased Institution; 5. Public Policy Concern as Addressed in ICSID; VI. CONCLUSION AND OBSERVATIONS; SELECT BIBLIOGRAPHY.