Strengthening arbitration frameworks will boost investor confidence and accelerate India’s rise as a global manufacturing hub.

India’s emergence as a global manufacturing powerhouse hinges on robust arbitration and mediation mechanisms, said Commerce and Industry Minister Piyush Goyal at the United International Avocat Conference in Delhi. He highlighted how an efficient legal framework is essential for economic growth, reducing judicial delays, and fostering a transparent business climate.

Goyal emphasised the need for impartial arbitration systems, urging stakeholders to enhance efficiency and credibility. Addressing India’s economic trajectory, he noted that the country is the fastest-growing major economy, poised to become the world’s fourth-largest by 2025-26. He credited reforms like the Jan Vishwas Act for simplifying regulations and building investor trust.

The minister also announced work on Jan Vishwas 2.0, aimed at further legal simplifications. He underscored India’s digital transformation, skilled workforce, and strong domestic market as manufacturing advantages. Stressing global legal alignment, he called for modernized arbitration laws to reinforce India’s position as a trusted economic leader.

Source: PIB