Maharashtra CM Devendra Fadnavis inaugurates India’s first centre for international arbitration

Q.  India’s first centre for international arbitration has been set up in which Maharashtrian city?
- Published on 10 Oct 16

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

ANSWER: Mumbai
 
Maharashtra CM Devendra Fadnavis inaugurates India’s first centre for international arbitrationMaharashtra CM Devendra Fadnavis has inaugurated India’s first centre for International Arbitration in Mumbai.
  • The Mumbai centre for International Arbitration is located in Express Towers but will be shifted to Mumbai’s business district BKC
  • MCIA is an important milestone in the journey for developing an ecosystem for International Financial Services Centre in Mumbai
  • The London Court of International Arbitration and Singapore International Arbitration Centre accounting for 30 percent of the cases that involved Indian businesses.
  • Businesses lose their precious money and time in arbitrations
  • It will attract cases and business world over to make India the top arbitration centre in the world
  • The MCIA demonstrates the Maharashtrian government’s resolve to create an IFSC in Mumbai
  • MCIA will be governed by a 17 member governing council
  • The attempt is being made to pull in place policy mechanism and physical apparatus for transparent, efficient and credible dispute resolution systems

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