"India is steadily positioning itself as global hub for arbitration": Law minister Meghwal at Singapore legal meet

New Delhi [India], August 29 (ANI): Union Minister of State (MoS) for Law and Justice, Arjun Ram Meghwal, emphasised that "India is steadily positioning itself as a global hub for arbitration with a focus on establishing a network of credible arbitral institutions."

MoS Meghwal made the remarks during the first meeting of the India-Singapore Joint Consultative Committee (JCC), established under the Memorandum of Understanding (MoU) on cooperation in Law and Dispute Resolution, held in Singapore on Friday.

The meeting marked a significant milestone in bilateral legal collaboration under the framework of an MoU between the two nations.

Co-chaired by Meghwal and Edwin Tong, Singapore's Minister for Law and Second Minister for Home Affairs, the dialogue underscored the shared commitment to strengthening institutional frameworks in arbitration, mediation, and commercial dispute resolution.

Minister Meghwal emphasised India's reform-driven journey in Alternative Dispute Resolution (ADR), citing legislative milestones such as amendments to the Arbitration and Conciliation Act, 1996, the enactment of the Mediation Act, 2023, and the establishment of the India International Arbitration Centre (IIAC), recognised as an institution of national importance.

He also added that India's cultural legacy of mediation, referencing Lord Krishna's role in the Mahabharata, illustrates the country's deep-rooted ethos of peaceful conflict resolution.

Minister Edwin Tong echoed these sentiments, noting that legal cooperation between India and Singapore has evolved in tandem with economic ties, especially as the two nations mark 60 years of diplomatic relations.

He highlighted the role of flagship institutions, such as the Singapore International Arbitration Centre (SIAC), the Singapore International Mediation Centre (SIMC), and the Singapore International Commercial Court (SICC), in shaping a forward-looking legal ecosystem. He also urged India to consider ratifying the Singapore Convention on Mediation, to which India was an early signatory.

The meeting featured focused sessions where both sides exchanged best practices. Representing India, Dr. Anju Rathi Rana, Secretary, Department of Legal Affairs, spotlighted the country's transition from ad-hoc to institutional arbitration, the importance of capacity-building for stakeholders, and the impact of the Commercial Courts Act in streamlining litigation.

She emphasised that these reforms position India as a reliable destination for foreign investors seeking efficient dispute resolution.

Singapore's delegation showcased its institutional strengths through presentations by Gloria Lim, CEO of SIAC; Chuan Wee Meng, Chairman of SIMC; and Crystal Tan, Registrar of SICC. Lim discussed SIAC's expansion into India and its growing caseload, with 625 new cases in 2024 involving parties from 72 jurisdictions. Meng highlighted SIMC's handling of disputes valued at nearly $8 billion, with India among its top users. Ms Tan outlined SICC's innovations, including expedited tracks and summary procedures for smaller disputes.

The meeting concluded with both ministers reaffirming their commitment to deepening cooperation under the MoU. They agreed to promote joint training programs for arbitrators, mediators, and judicial officers, adopt best practices from each jurisdiction, and continue dialogue to enhance investor confidence and legal certainty. (ANI)

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