Daijiworld Media Network - New Delhi

New Delhi, Jun 15: Reaffirming India’s long-standing tradition of resolving disputes through consensus, Union Minister of State for Law and Justice Arjun Ram Meghwal announced that the government is committed to establishing India as a global centre for arbitration.

Speaking at the National Conference on Institutional Arbitration held on Saturday, Meghwal emphasised the push toward institutional arbitration as the preferred model for commercial dispute resolution. Organised by the Department of Legal Affairs in collaboration with ONGC and the India International Arbitration Centre (IIAC), the event brought together key stakeholders from government, public sector enterprises, and the legal community.

The Minister noted that steps are being taken to highlight the capabilities of the IIAC and promote it as a world-class arbitration institution. More than 150 delegates attended the conference in person, while the event received over 1,600 virtual views, reflecting wide interest in the subject.

The day-long event featured four technical sessions addressing major themes in institutional arbitration. Discussions included the need for PSUs to adopt structured arbitration processes, the benefits of the recently introduced IIAC (Conduct of Arbitration) Regulations, 2023, and the role of best practices in streamlining the arbitral process. Panelists advocated for improved case management, codified procedures, and capacity-building to enhance the credibility and effectiveness of arbitration in India.

A short film showcased IIAC’s advanced infrastructure and underlined India's preparedness to handle complex, high-stakes disputes. The final session focused on lessons from global arbitration practices, including emergency arbitration and increased access to legal research tools.

Justice Hemant Gupta (Retd.), Chairperson of the IIAC, opened the conference with a call to reduce India’s dependency on ad hoc dispute resolution. He described the transition from the former International Centre for Alternative Dispute Resolution (ICADR) to IIAC as a pivotal move by the government, and urged PSUs to lead in adopting institutional frameworks.

With strong political support and growing legal infrastructure, India is steadily advancing its goal of becoming a preferred global destination for arbitration.