Niti aayog to host global arbitration meet from October 21

NEW DELHI: To fast-track dispute resolution process in the country, government’s think-tank Niti Aayog will host a global arbitration meet which will see participation from leading international arbitral institutions. The three-day conference will be inaugurated on October 21 by President Pranab Mukherjee, while Prime Minister Narendra Modi will be delivering the valedictory address, Niti Aayog said in a statement.

The conference seeks to provide impetus to commercial arbitration in India, which is fast gaining pace across the world, for faster, more efficient dispute resolution outside the court room, it added. Niti Aayog, Law Ministry, National Legal Services Authority, International Center for Alternative

Dispute Resolution and National Institute of Labour Economics Research and Development have collaborated to make India the centre of arbitration, the statement said. Also, six global arbitral institutions (HKIAC, ICC, KLRCA, LCIA, PCA and SIAC) and major associations (FICCI, PHD Chamber, CII and Assocham) have come together for the initiative, it said.