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The future of arbitration in India: Strengthening the process of alternative dispute resolution


The future of arbitration in India: Strengthening the process of alternative dispute resolution
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The future of arbitration in India: Strengthening the process of alternative dispute resolutionBy Manoj K Singh, ET CONTRIBUTORS
Last Updated: Apr 17, 2021, 01:28 PM IST
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Synopsis
The Arbitration and Conciliation Act 1996 has been modelled on lines of the UNCITRAL framework of laws with the idea to modernize Indian arbitration law and bring it in line with the best global practices and also make India a global hub for arbitration.
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The 2019 Amendment has also introduced a tiered system of referring disputes to arbitral institutions.
Being a global economic powerhouse, and in the interest of integrating with the global business community, Indian laws have repeatedly been amended to keep the country at par with legal regimes in other leading commercial law jurisdictions. ....

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