Setup to review institutionalisation of arbitration mechanism in India. It will look into various factors to accelerate arbitration mechanism and strengthen the arbitration ecosystem in the country. It will also examine specific issues and prepare roadmap required to make India a robust centre for international and domestic arbitration.
Key Recommendations
- Arbitration Promotion Council of India (APCI): The committee has recommended for setting up APCI, an autonomous body having representatives from all stakeholders for grading arbitral institutions in India. The APCI may recognize professional institutes providing for accreditation of arbitrators. It may be also empowered to hold training workshops and interact with law firms and law schools to train advocates with interest in arbitration and with a goal to create a specialist arbitration bar comprising of advocates dedicated to the field.
- Specialist Arbitration Bench: It also recommended for creation of a specialist Arbitration Bench to deal with such Commercial disputes, in the domain of the Courts.
- Changes in Arbitration and Conciliation Act: It has suggested in various changes in provisions of the 2015 Amendments in the Arbitration and Conciliation Act with a view to make arbitration speedier and more efficacious and incorporate international best practices.
- National Litigation Policy (NLP): The Committee also has opinion that the NLP must promote arbitration in Government Contracts.