New Delhi, 14/12: Parliament on Wednesday passed a bill to rename the New Delhi International Arbitration Centre as the India International Arbitration Centre.
The Rajya Sabha passed the New Delhi International Arbitration Centre (Amendment) Bill, 2022, which was piloted by Union Law Minister Kiren Rijiju in the house on Wednesday.
The Lok Sabha has already passed the bill on August 2022, which expands this to include the conduct of other forms of alternative dispute resolution besides arbitration.
While replying to the debate, Rijiju in the Upper House said this bill will help India emerge as an attractive destination for arbitration at the global level.
Comments are closed.