New Delhi [India], Oct. 23(ANI
): Prime Minister Narendra Modi on Sunday said India is experiencing a digital revolution, which would bridge the digital and economic divide in the society.
The Prime Minister, who was addressing a three-day conference titled 'National Initiative On Strengthening Arbitration And Enforcement', also listed out the steps taken by the government towards hassle free arbitration process.
Prime Minister Modi said that major amendments have been made to Arbitration and Conciliation Act which has made arbitration process easy, timely and hassle-free.
"India is experiencing a digital revolution and this is bridging the digital and economic divide in the Indian society, rural society in particular," he said.
"From cause-lists to case-laws, the lawyer's library is now just a click away on your mobile phone," he added.
The Prime Minister also stated that over a 1000 archaic laws have been scrapped and the government has enacted a comprehensive Insolvency and Bankruptcy Code, 2016.
Giving details of the initiatives taken by the government, Prime Minister Modi said that the government has implemented the National Company Law Tribunals and has also established a statutory Monetary Policy Committee.
"We have enacted Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act 2015 for speedy resolution," he added.
Prime Minister Modi further said there is a need to facilitate a vibrant ecosystem for alternate dispute resolution including arbitration, mediation and conciliation.
He added India needs to facilitate a vibrant ecosystem for alternate dispute resolution including arbitration, mediation and conciliation.
The three-day conference titled 'National Initiative On Strengthening Arbitration And Enforcement' is being held to change the face of dispute resolution in India.
The conference, was inaugurated by President Pranab Mukherjee on October 21, aims to provide impetus to commercial arbitration in the country, which is fast gaining pace across the world.
During the inauguration of the conference, President Mukherjee called for institutional reforms to strengthen arbitration framework in India and said that courts need to devise a mechanism to handle such matters separately and avoid delays arising from judicial intervention.
For the first time, six leading international arbitral institutions and all major industry associations will come together to drive this initiative as part of efforts to provide impetus to commercial arbitration in the country. (ANI