The North News
New Delhi, March 29
India’s rise as a global manufacturing powerhouse hinges on robust arbitration and mediation frameworks, Union Commerce and Industry Minister Piyush Goyal said at the United International Avocat Conference in Delhi. Goyal underscored the role of arbitration in reducing judicial delays and fostering a transparent business environment. Acknowledging concerns over corporate influence and international biases, he called for more efficient and impartial arbitration mechanisms to boost investor confidence.
Highlighting India’s rapid economic growth, Goyal said noted that the country is poised to become the world’s fourth-largest economy by 2025-26. He credited policy reforms, including the decriminalization of over 180 legal provisions through the Jan Vishwas Act, for strengthening global trust in India’s investment climate. The Minister announced plans for Jan Vishwas 2.0, aimed at further simplifying regulations and reducing legal complexities for businesses and individuals. He invited suggestions from legal experts and stakeholders to enhance ease of doing business.
Goyal also pointed to India’s competitive advantages—such as a young workforce, digital transformation, and extensive 5G connectivity—that position the country as a global manufacturing hub. He stressed the need to modernize arbitration laws and integrate technology to align with international best practices.
Quoting Prime Minister Narendra Modi, Goyal reaffirmed that justice is fundamental to self-governance and national integrity. He urged the legal community to help draft strong, globally competitive legal frameworks that reinforce India’s economic ambitions.
