Prime Minister Narendra Modi on Sunday, addressed the first of its kind Global conference held in New Delhi. The conference which was organised to take steps to strengthen Arbitration and Enforcement laws in the country, concluded today. PM Modi in his speech underlined that India is experiencing a digital revolution which is bridging the digital and economic divide in Indian societ. He also talked about the importance of digital lawyer’s library and said that the ease of accessing it has considerably increased.
PM Modi also said that more than 100 archaic laws have been discarded and a comprehensive Insolvency and Bankruptcy Code has been enacted. Moreover, PM Modi pointed out to the implementation of National Company Law Tribunal and establishment of a statutory Monetary Policy Committee.
Referring to the institutions of the judicial system, he said “We have enacted Commercial Courts, Commercial Division & Commercial Appellate Division of High Courts Act 2015 for speedy resolution.” “A National Judicial Data Grid has been set up to provide data on cases pending in district courts across the country” he added.
Six arbitrary institution had participated in the initiative and had shared this common platform. President Pranab Mukherjee at the inaugural ceremony of the conference had talked about the importance of institutional reforms. He had also talked about the significance of building a mechanism where judicial intervention would not cause delay in related cases.
Finance Minister Arun Jailtey at the inauguration had also also pointed out at the importance of the revival of arbitration centres at the metropolitan cities – Mumbai and Delhi.