FM for arbitration centre in maritime sector

New Delhi: Finance Minister Nirmala Sitharaman on Thursday batted for setting up an international arbitration centre for the maritime sector.This, she said, will provide protection from international sanctions and pressures.It will also ensure greater flexibility in India’s shipping operations, she said, while addressing a three-day global maritime summit in Mumbai.

She noted that while there are many Indians working in international arbitration centres in London or Singapore or Dubai, they are all just working in subordinate roles there.This scenario, Sitharaman said, can be changed.