Six years after law amended, Centre yet to constitute Arbitration Council of India
GS2Polity · Governance · IR· Bills, Acts & ordinances· Mains·
Why in news
The Union Government has failed to constitute the Arbitration Council of India despite a 2019 legislative amendment, a delay criticized by former Law Secretary P.K.
Background
Union Law Minister Arjun Ram Meghwal has expressed concern over the lack of progress in establishing this institutional mechanism for dispute resolution.
Facts for Prelims
- BodyArbitration Council of India: A mandated body intended to promote institutional arbitration.
- PostArjun Ram Meghwal: Union Law Minister of India.
For Mains
Q. Discuss how the establishment of an institutional arbitration framework can enhance India's position as a global hub for international dispute resolution.
Dimensions to cover in your answer
- Institutional bottleneck: Delay in creating a dedicated council hinders the transition from ad-hoc to institutional arbitration.
- Global competitiveness: Lack of a robust regulatory body affects investor confidence and India's standing in international commercial law.
Keywords: Institutional Arbitration · Dispute Resolution · Legislative Delay · Ease of Doing Business · Arbitration and Conciliation Act
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