Legal reforms to boost investor confidence
India needs a robust arbitration and mediation framework to become a global manufacturing hub. The Commerce Minister emphasized this at the United International Avocat Conference in Delhi. He said stronger legal mechanisms can speed up dispute resolution and attract investors.
The Minister stressed that arbitration reduces judicial delays and ensures business stability. He acknowledged concerns about corporate influence and international biases in arbitration. He urged stakeholders to improve India’s arbitration system to make it more impartial.
India’s rapid economic growth
India is the world’s fastest-growing major economy. By 2025-26, it could become the fourth-largest global economy. The Minister credited this growth to policy changes, including easier business regulations. Over 180 legal provisions have been decriminalized through the Jan Vishwas Act.
He said Jan Vishwas fosters trust between the government and businesses. The goal is to reduce unnecessary legal penalties and simplify compliance. The government is now working on Jan Vishwas 2.0 to ease legal complexities further.
Arbitration and global best practices
The Minister highlighted India’s strengths as a manufacturing hub. These include a young workforce, technological advances, and a vast domestic market. Digital transformation and 5G connectivity have improved business operations.
He called for modernizing India’s judicial system to match global standards. He reaffirmed the government’s commitment to making arbitration more efficient through technology and updated laws. He quoted the Prime Minister, saying justice is essential for a nation’s survival.
Strengthening legal infrastructure
The Minister urged legal experts to help draft clear and competitive laws. A strong legal framework, he said, will boost India’s reputation as a global economic leader. He encouraged suggestions for legal reforms that would ease business operations.
A reliable arbitration system will not only attract investments but also position India as a trusted global trade partner.
