New international arbitration centre for Goa | Practical Law

New international arbitration centre for Goa | Practical Law

Kamal Shah (Partner) and Jonathan Morton (Trainee),  Stephenson Harwood

New international arbitration centre for Goa

Practical Law Legal Update 4-502-9572 (Approx. 2 pages)

New international arbitration centre for Goa

Published on 02 Aug 2010India, International
Kamal Shah (Partner) and Jonathan Morton (Trainee), Stephenson Harwood
The Indian Union Law Minister has announced plans to open a new arbitration centre in Goa, India. It is hoped that Goa's status as a popular, and well known, tourist destination will help the state to be more attractive as a destination for arbitration.
On 25 July 2010, the Indian Union Law Minister, Dr M Veerappa Moily, announced plans to develop both a Paperless Court and an International Arbitration Centre in Goa. Minister Moily said that India "should be the most preferred destination for arbitration. In Dehli we have an excellent mediation centre. We also want to upgrade the mediation centres in Ahmabad, Mumbai and Bangalore so that they become centres of international arbitration". He said that he hoped that Goa's status as a popular, and well known, tourist destination would help the state to be more attractive as a destination for arbitration.
The Minister went on to add that there were plans to amend the Arbitration and Conciliation Act (Act) to facilitate the process. He has, on previous occasions, stated that arbitration in India needed to be "speedy, effective, transparent and cost-effective" and that changes to the Act would help the process. Minister Moily also acknowledged the significant number of current cases involving the government currently moving through the courts and said that both the state and the central governments would be asked come up with policies in order to ensure that unnecessary litigation does not clog the judicial process. Such comments are encouraging, and the development of a new Arbitration Centre in Goa demonstrates a clear commitment to improving India's reputation as a suitable venue for settling disputes.