The focus on streamlining arbitration methods is necessary but not sufficient. Conciliation needs more play
The past several months have seen a flurry of policy making. Parliament has made laws amending the 2013 Companies Act, the Arbitration and Conciliation Act, and introduced the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2016.
Additionally, the government has proposed the Code on Insolvency and Bankruptcy, and the Public Contracts (Resolution of Disputes) Bill. The latter proposes a separate tribunal for disputes under public private partnerships.
All these initiatives are concerned with putting together an effective package to ensure ease of doing business in India, of which …
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