SME Times is powered by   
Search News
Just in:   • First India-China high level Meeting on security cooperation  • Saudi Arabia: World's 3rd largest weapons buyer with US as its top supplier  • Sack Jaitley over bank frauds: Congress  • Data protection bill detrimental to economy, says advocacy group  • SC verdict on firecrackers on Tuesday 
Last updated: 21 Nov, 2017  

suresh.prabhu.thumb.jpg Use alternative dispute resolution mechanism: Commerce Minister

   Top Stories
» First India-China high level Meeting on security cooperation
» 'Air cargo industry must grow 12.9% yearly to achieve policy goal'
» Industries, govt must come together for education to all: Naidu
» Industry body CII forms Indian Digital Gaming Society
» RBI adopts calibrated tightening due to inflation risks
SME Times News Bureau | 21 Nov, 2017
Emphasising on the growing importance of Alternative Dispute Resolution (ADR), Commerce Minister Suresh Prabhu has said that the legal community should make use of this mechanism for enhancing ease of doing business.

Prabhu conveyed the message through video conferencing at the Bar Leadership Summit held here recently.

The agenda of the Summit, organised by Indian National Bar Association (INBA), Ministry of Commerce and Industry, Centre for Trade and Investment Law (CTIL) and Indian Institute of Foreign Trade, was 'Reforms in the Indian Legal Sector'.

The Summit explored issues and concerns surrounding the liberalisation of the Indian legal services sector.

"The Summit on the whole agreed on the need to reform the legal sector to align itself with the new global realities in the profession," the Ministry said in a statement on Monday.

Minister of State for Human Resource Development (Higher Education) Satya Pal Singh, in his inaugural address, stressed on the importance of law as an enabler of justice and spoke on the importance of the impartiality and neutrality of the judicial system in India.

He noted that the justice system should focus on the difficulties faced by victims in particular.

Secretary General of INBA Kaviraj Singh highlighted the dramatic changes that have taken place within the legal sector in India in the last two decades and identified the three major areas which need focus - conduct of arbitration in India, reforms in the Indian legal regulatory sector and liberalisation of legal services.

Law Secretary Suresh Chandra said India has huge potential to increase the size of the legal market, which is around $9 billion at present. He suggested that reforms in this sector could tie in with Prime Minister Narendra Modi's agenda of 'reform, transform and perform'.

Additional Economic Adviser, Department of Commerce, Sangeeta Saxena, highlighted the need for diversification of services exports and the particular importance of the legal services sector in boosting India's overall performance in services.

President of the Supreme Court Bar Association (SCBA) R.S. Suri noted that the "gulf of understanding between the Bar Council of India, State Bar Councils and the government needs to be bridged" and that frequent consultations and deliberations are needed in reforming this important sector.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

All previous tax litigation cases to be resolved at single window system
Bhagawath Prasad | Tue Nov 21 08:25:15 2017
Sir, It's a brilliant idea to adopt alternate dispute resolution method , if government withdraws it's tax litigation cases from courts and tribunals and puts it's head into resolving them thru alternate ideas like single window scheme is better for SME sector to perform better and claim their money back from government coffers , also it curtails half of corruption at assessment offices.

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 23 Oct, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(4)
» India needs strong, decisive leadership at Centre: Jaitley(1)
» Industries, govt must come together for education to all: Naidu(1)
» Indian artisans - crafting a way of life(1)
» All is not well with GDP growth(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter