The Lok Sabha on Thursday passed by a voice vote a bill aimed at making India an international arbitration hub by providing facilities for settlement of commercial disputes.
Replying to a debate on The Arbitration and Conciliation (Amendment) Bill 2019, Law Minister Ravi Shankar Prasad India is qualified to have a centre of international arbitration as it has enough qualified lawyers, and has skill and training facilities.
Prasad said Indians and Indian companies involved in international arbitration have to move to centres like London, Singapore or Paris.
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