A delegation from the Indian National Bar Association was told of the plan by Sudhanshu Pandey, joint secretary at the Commerce ministry. Kaviraj Singh, general secretary of the Association, said afterwards: 'It’s a very major step… They are trying that it is passed within this session in the parliament, otherwise they will issue an ordinance.' 

Rivals in Singapore

A necessary change to the current situation would be made by an amendment to the Arbitration and Conciliation Act. India is keen to make up some of the ground it has lost to Singapore and Hong Kong as centres of arbitration in Asia. Source: Legally India