The Minister for Law and Justice, Mr H.R. Bhardwaj, has underlined the need for a separate Bar for arbitration and expressed the hope that India would emerge as a hub for international arbitration.
Inaugurating the international conference on Critical issues in international commercial arbitration, the Minister felt that the prospects of making India a hub of international arbitration were bright as the country had legal skills better than those in other parts of the world.
The Minister added that there was an urgent need to not only develop institutional arbitration but also create awareness on the arbitration processes among the Indian legal fraternity so as to create a new brand of arbitrators and practitioners who were fully devoted to the arbitration process instead of treating it as a part time profession.
The conference had been jointly organised by the Federation of Indian Chambers of Commerce and Industrys Indian Council of Arbitration and the International Federation of Commercial Arbitration Institution.