Despite legislative reforms, India's ambition to be a global arbitration hub faces a critical 'trust deficit' due to procedural delays and judicial intervention. Senior Advocate Gourab Banerji argues the solution lies in creating specialist arbitration courts and effectively implementing the Mediation Act 2023, rather than further statutory tinkering.
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- ›Key SC Judgment Cited: Gayatri Balasamy v. ISG Novasoft (2025 Constitution Bench)
- ›Recent Arbitration Law Amendment: Draft Arbitration and Conciliation (Amendment) Bill, 2024
- ›Target this Legal Point: Mediation Act, 2023 and its provision for pre-litigation mediation.
- ›Target this Nodal Body: The proposed Mediation Council of India (MCI) for standardizing mediator accreditation.
- ›Target this Reform: The recommendation for specialist Arbitration Divisions in High Courts by the 2023 Expert Committee.
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