Committed to making India a global arbitration hub: Arjun Ram Meghwal
Invoking the country's ancient tradition of consensual dispute resolution, Union Minister of State (Independent Charge) for Law and Justice and Parliamentary Affairs Arjun Ram Meghwal said that the government is committed to making India a global arbitration hub.
Addressing a National Conference on Institutional Arbitration, organised by the Department of Legal Affairs, Ministry of Law and Justice, in collaboration with ONGC and the India International Arbitration Centre (IIAC) on Saturday, the Minister said efforts are being made to promote institutional arbitration as the preferred mode of commercial dispute resolution.
He said the government is also trying to highlight the IIAC as a globally competitive arbitral institution.
The day-long Conference brought together senior officials from the Ministry of Law and Justice, representatives of Central Public Sector Enterprises (CPSEs), legal experts and arbitration professionals.
The Conference featured four technical sessions, each delving into key aspects of institutional arbitration. In addition to the participation of over 150 distinguished delegates, the Conference witnessed strong virtual engagement with over 1,600 views on social media.
The first session, 'Strengthening Dispute Resolution in PSUs: The Role of Institutional Arbitration', addressed public sector-specific challenges and institutional arbitration's potential in transforming the dispute resolution landscape, particularly concerning infrastructure and public sector contracts.
Speakers highlighted the need for capacity-building and called for structured, institutional processes over fragmented ad hoc mechanisms, with support from bodies like IIAC.
The second session took a close look at the IIAC (Conduct of Arbitration) Regulations, 2023, breaking down key provisions and their practical relevance.
A short film was also screened, showcasing IIAC's state-of-the-art infrastructure and signalling India's readiness to handle complex, high-stakes arbitrations.
The third session, 'Best Practices During Arbitral Process — A Discourse', focused on procedural and institutional best practices to enhance the effectiveness of arbitration. Speakers advocated structured case management, suggesting that their regularisation under institutional rules would enhance clarity, expedite timelines, and minimise ambiguities in the arbitral process.
The fourth session focused on learnings from international jurisdictions and the way ahead for the arbitration ecosystem in India. The discussion included global practices, emergency arbitration and access to legal research tools to make arbitration more accessible.
The inaugural session opened with a welcome address by Justice Hemant Gupta (Retd.), Chairperson, IIAC, who discussed key challenges hindering the growth of institutional arbitration in India, particularly the continued reliance on ad hoc mechanisms.
He emphasised the transition from the erstwhile International Centre for Alternative Dispute Resolution (ICADR) to IIAC as a significant move by the Government and stressed the need for Public Sector Undertakings (PSUs) to adopt structured institutional frameworks.
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