New Delhi, Nov. 27 -- More than a year after a draft bill to amend the Arbitration & Conciliation Act was circulated for stakeholder comments, the law and justice ministry is set to introduce changes to the law in the upcoming winter session of parliament starting on 1 December. This would be the fourth major amendment of the 1996 law, after changes introduced in 2015, 2019 and 2021.Arbitration, a key pillar of out-of-court dispute resolution, has been taken up by more practitioners and arbitrators over the years. But hurdles such as high costs and high levels of court intervention remain. Faster dispute resolution is crucial to attract investments in India, which seeks to become a global hub for arbitration.

Mint looks at the earlier re...