Despite amendments, India far from becoming a global arbitration hub

While India has made advances in recent times, there is a long way still to go

In recent times, there has been a concerted effort on part of the government to improve the arbitration landscape in India. However, despite these changes, India is still far from becoming a global arbitration hub. A few reasons standout: lack of certainty, poor legislative drafting, a reluctance to keep pace with change and, more recently, the government’s desire to keep control. Let me illustrate with three examples in the context of the 2018 Arbitration Bill:
 
First, those familiar with arbitration jurisprudence will remember the 2015 amendments to the Arbitration Act, which had brought in sweeping reforms. The amended Act