Plan to Develop India as an International Arbitration Hub

The efforts in this direction would help the country promote ease of doing business (EODB) environment.

India’s Minister for Law & Justice Kiren Rijiju and S P Singh Baghel, Minister of State for Law & Justice, took a meeting with the officers of the Department of Legal Affairs and Legislative Department on July 15 at Shastri Bhawan, New Delhi. 

Anoop Kumar Mendiratta, Law Secretary and Secretary, Legislative Department along with officers welcomed the Ministers who in their introductory remarks highlighted the areas of priority for the Government with regard to the working of the Ministry and emphasized upon the need for time bound disposal of files marked to the Department. 

According to a government communique, the Law Minister expressed his appreciation for the Legal Information Management and Briefing System (LIMBS) initiative of the Department and directed for further enhancing its scope and reach to monitor litigation which is of significant importance from Government and policy perspectives. 

The Minister also stated that to achieve Prime Minister Narendra Modi’s vision to develop India as an international arbitration hub, the Arbitration Council of India (ACI) and the New Delhi International Arbitration Centre (NDIAC) are required to be set up. 

The communique stated that the establishment of these institutions will not only help in reduction of litigation for appointment of arbitrators, but would promote institutional arbitration, which is the need of the hour.  

Besides, the efforts in this direction would help the country promote ease of doing business (EODB) environment, particularly with regard to enforcing of contracts and help in further improving India’s position in the World Bank ranking on EODB. 

The Indian government believes that these initiatives would be conducive in attracting foreign investments and strengthening the Indian economy.