IICA Certified Arbitration Program (ICAP)
Prelims:
Polity
& Governance, Economy
Mains:
GS
Paper II-Governance, GS Paper III-Indian Economy
Current relevance:
The Indian Institute of Corporate
Affairs (IICA), under the Ministry of Corporate Affairs, inaugurated
the second batch of the IICA Certified Arbitration Program (ICAP) to
strengthen India's arbitration ecosystem and develop globally trained
arbitration professionals.
Highlights:
1. ICAP
is the flagship arbitration training programme
of the Indian Institute of Corporate Affairs (IICA).
2.
It aims to develop a pool of globally
benchmarked arbitration professionals to strengthen India's dispute
resolution ecosystem.
3. Objectives
of ICAP:
i.
Promotes institutional
arbitration in India by developing a strong, efficient, and internationally
recognised arbitration ecosystem.
ii.
Builds professional capacity
in arbitration and Alternative Dispute Resolution (ADR) through
specialised training and skill development.
iii.
Supports the vision of Viksit
Bharat@2047 by strengthening India's legal, commercial, and dispute
resolution institutions to improve investor confidence and ease of doing
business.
4.
Reforms to Strengthen
Arbitration:
§
The Government is working to
make India a global arbitration hub through reforms in the Arbitration
and Conciliation Act, 1996.
§ It
has also indicated plans to establish the Arbitration Council of India (ACI)
to strengthen institutional arbitration.
5.
Significance:
The programme supports the development of a robust arbitration ecosystem, promotes judicial efficiency, and strengthens India's position as a preferred destination for international commercial dispute resolution.
Source:
PIB - https://www.pib.gov.in/PressReleasePage.aspx?PRID=2282584®=48&lang=1