The Bar Council of India has amended its rules, permitting foreign lawyers to engage in international arbitration in India. Chief Justice Gavai supports this change, aiming to enhance India as a global arbitration hub while safeguarding Indian lawyers’ rights. The shift promotes reciprocal practice and aims to elevate arbitration standards in India.
CJI B.R. Gavai, speaking at a London summit, proposed four urgent reforms for India’s arbitration: ensuring finality of awards, promoting institutional arbitration, enforcing stricter timelines to prevent delays, and increasing diversity among arbitrators. His vision aims to enhance India’s arbitration landscape, making it more efficient, reliable, and inclusive.
NEW DELHI: The Union Law Ministry has revealed that the Central government has provided financial support of Rs.7.5 crore over the past three years to the India International Arbitration Centre (IIAC). This funding aims to promote and strengthen institutional arbitration in India. This information was shared by Minister of State for Law and Justice Arjun Ram Meghwal in response to questions raised in the Rajya Sabha by Aam Aadmi Party (AAP) MP Sanjeev Arora.