New Delhi: External Affairs Minister S Jaishankar Highlighted benefits arbitration during the inauguration Indian Arbitration Association Saturday in Delhi.Addressing an event at the Bharat Mandapam, Jaishankar acknowledged arbitration as a fundamental aspect of modern society Dispute Resolution.
“We all know that it is an efficient and fair method of resolving disputes and provides a streamlined alternative to what is often a very complex judicial process. Arbitration therefore undoubtedly inspires confidence, whether in the domestic or international arena , develop confidence. Economic Growthand uphold the rule of law,” EAM said.
Jaishankar emphasized the importance of arbitration in India, especially during the period of rapid economic growth in the context of globalization. He pointed out that high-quality arbitration plays a crucial role in attracting arbitrators. foreign direct investmentwhich is critical for the country to make the most of its strengths in democracy, demographics and demand.
The EAM also highlighted the government’s efforts in streamlining inter-state trade through the Goods and Services Tax, fostering a unified national market and promoting digital delivery.These measures and law reform Amendments to the Insolvency and Bankruptcy Code and Financial Laws, among others, help create a stable and positive business environment.
Jaishankar stressed the importance of strengthening dispute resolution mechanisms, including commercial courts and alternative dispute resolution mechanisms, as they can enhance investor confidence and reduce the burden on the judiciary.As Minister for Foreign Affairs, he recognized that arbitration facilitated international trade Invest by providing a stable and predictable dispute resolution mechanism.
In a post on . He commended the Modi government for recognizing the importance of high-quality arbitration in improving ease of doing business and expressed confidence in the contribution of the legal fraternity to Viksit Bharat.
