"The next three days are crucial with very important pieces of legislation coming up before parliament", Jaitley said here addressing the annual general meeting of industry chamber FICCI.

"India has almost ceased to be the centre of arbitration and adjudication and we need to bring it back because the arbitration costs abroad are enormous for our companies", he said.

"We are bringing in the bill for creating fast-track arbitration in the country, including single-member tribunals", he added.

The finance minister said another proposed legislation would be bringing in a new Bankruptcy Law for companies.

 

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