Budget 2022: Int'l Arbitration centre at GIFT City for dispute resolution

Market participants say move would ensure fast disposal of cases and will attract investors and enhance ease of doing business

Finance Minister Nirmala Sitharaman on Tuesday announced the setting up of an international arbitration centre at the GIFT City – a planned business district in Gujarat – for timely resolution of disputes under international jurisprudence.

Market participants said such a move would ensure fast disposal of cases and will attract investors and enhance ease of doing business.

“An international arbitration center will be established in GIFT City to ensure the fast disposal of disputes in international jurisprudence. The Government has aimed at ensuring fast disposal of cases and avoiding repetitive appeals. This is bound to attract more investors and companies.