Friday, November 22
Hon'ble Chief Minister Sri Yogi Adityanath presiding a Group of Investors Meeting in Mumbai (Left) and Investors Meeting in Lucknow (Right), recently.
CEMA Settler, Eminent Designated Sr Advocate Sri Prashant Chandra, Sr. Partner, Legal Eagles Law Firm, Hon'ble Supreme Court & High Courts in India, said that India has seen phenomenal growth in the past decade in terms of global economy.
Amongst various attributes, political dispensation is seemingly one of the main reasons for this achievement.
To maintain this growth and effectively boost it, good governance in all spheres not merely confined to administrative support, is absolutely imperative.
Incentives and trade friendly policies alone would not give impetus in developing trade relations with countries where India has existing trade pacts or agreements such as Indo-UK Trade Pact, Indo-US Trade Pact, Partial Legal Reciprocity with UAE and Presidency of G-20 to name a few.
Uttar Pradesh besides being the largest state in India has the resources, potential and strong political will which has created an atmosphere of ease in doing business.
The incentives and concessions provided by the state government have attracted investments in setting up multifarious industries – both from domestic as well as foreign investors, with companies like Samsung setting up the world’s largest mobile manufacturing plant in Uttar Pradesh.
Although the state is attracting considerable foreign direct investment (FDI), the vacuum in the arena of the dispute resolution system needs to be filled up by a robust and transparent system on the lines of Singapore, Hong Kong, Dubai and London. This will inculcate confidence in investors and provide assurance that their interests would be safeguarded with complete fairness in resolving disputes with utmost efficiency untrammelled by usual interference by the executive and judicial wings.
With the above objectives in mind, the Center of Excellence for Mediation and Arbitration (CEMA) has been established at Lucknow, the capital of Uttar Pradesh.
CEMA is committed to provide investors guidance in their rights and security through institutional arbitration with international standards of practice, with the active support and patronage of the U.P. state machinery and the judicial wing. Trade bodies such as Indo American chamber of commerce, Indo Canada Chamber of Commerce, PHD Chamber of Commerce & Industries, Atal Poorvachanl Udyogik Vikas Parishad ( Regd. ), have already come forward and pledged their overwhelming participation and support to CEMA, in developing a foundational transparent, ethical and safe investment environment.
MR PRASHANT CHANDRA
Designated Sr Advocate
Practising law for the past about 45 years in the Supreme Court and various High Courts.
Senior Partner,
Legal Eagles Law Firm
Supreme Court of India.
Settler of a registered Trust
CEMA - Center of Excellence For Mediation And Arbitration – set up to provide ease of business and promote industrialisation and investments by providing an effective and transparent dispute resolution through the process of mediation and arbitration.
0 Comments:
Leave a Reply