In push for arbitration in India, one sector steps on the gas

The petroleum and natural gas ministry has told public sector companies to write in their contracts that arbitration will be according to Indian law, insisting on a provision that for long has been difficult to implement. The change begins in oil and gas, a sector more likely to be drawn into arbitration, and where companies are proving more amenable to the nudge.

 

This week, the central government sought from the Supreme Court time till November to file an expert committee’s report recommending reforms in the Indian Arbitration and Conciliation Act of 1996.