New Delhi, March 29 -- Arbitration and mediation mechanisms are crucial for India's emergence as a global manufacturing hub, stated Union Minister of Commerce & Industry Piyush Goyal while addressing the Special Plenary Session at the United International Avocat Conference in Delhi on Saturday.

The Ministry of Commerce and Industry said in an official statement that in his speech, he underscored the importance of a strong legal and arbitration framework in supporting India's rapid economic growth and its ambition to become a global manufacturing hub.

Goyal noted that arbitration and mediation play a pivotal role in reducing judicial delays and ensuring a stable and transparent business environment.

He emphasised the need for confidence...