Maharashtra to set up international arbitration centre in Mumbai

Q.  Maharashtra will be setting up the first international arbitration centre in which city at the start of the Make in India Week from February 13th to 18th?
- Published on 09 Feb 16

a. Mumbai
b. Nagpur
c. Solapur
d. Pune

ANSWER: Mumbai
Maharashtra has made the plan to set up the first international arbitration centre in Mumbai ahead of the maiden Make in India Week to be held from February 13 to 18. Overseas disputes arbitration is set to yield revenue worth INR 2 billion. Singapore International Arbitration Centre showed in 2013 that of the total 259 new cases, Indian companies made the contribution to the highest number of filing at 85. MCIA will open up avenues for business as well as legal talent across the state and evolve framework in accordance with global standards followed by SIAC, ICC and LCIA.

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