A Paradigm shift in ICSID "Investment" Framework- A Judicial Perspective

Author(s)	Ms. Saina S Asok
Country	India
Abstract	The Convention established the International Centre for Settlement of Investment Disputes( ICSID) for the Settlement of Investment Disputes between States and Nationals of Other States. This was done to facilitate the easy settlement of disputes that resulted from foreign investments. As of now, almost 158 contracting states have ratified the convention, making it a vital organisation for resolving disputes involving foreign investments. The purpose of this Convention is to provide the citizens of Contracting States with an impartial forum for the conciliation and arbitration of investment disputes. This was signed in 1965, entered into force and became effective in 1966. It ensures that the disputes are resolved in a fair and efficient manner, and also offers legal protection to investors while considering and balancing the rights of the sovereign states. This paper aims to trace the evolution of the definition of ‘Investment’ under the ICSID Convention throughout the years by analysing the case laws and their application. For that, the researcher intends to bring out the importance of defining “Investment” under the ICSID Convention. The definition is crucial as it is inevitable to determine the jurisdictional aspects of dispute settlement.
Keywords	Investment, ICSID, Evolution, Arbitration, Disputes
Published In	Volume 8, Issue 1, January-February 2026
Published On	2026-01-12
DOI	https://doi.org/10.36948/ijfmr.2026.v08i01.66279

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