Finance Minister Arun Jaitley today underlined the need to constitute a task force of experts to deliberate on the challenges in international arbitration in the BRICS countries. <br/><br/>He said there is a need to put in place institutional mechanisms to establish arbitral centres in these nations.<br/><br/>Delivering the valedictory address at the conference on International Arbitration in BRICS in New Delhi, Mr. Jaitley emphasised upon the need to have lawyers of credibility and said it was necessary to make enforcement of awards largely free from the interference by domestic courts. Mr Jaitley said this was imperative as many countries fear that the arbitral awards are loaded against the emerging countries. <br/><br/>The Finance Minister said, free trade should also mean fair trade, which is not detached from local commitments. He pointed out that the challenges posed by economic slowdown continue to haunt the global economy. He said the emerging economies would have to shoulder the responsibility of driving global growth.<br/><br/>Earlier, Law Minister Ravi Shankar Prasad said, ensuring growth with equity must be a priority for the BRICS nations. Inaugurating the Conference on International Arbitration in BRICS in New Delhi today, Mr Prasad said, there is a need to put in place a robust arbitration forum as disputes will rise with the growth in the business. He said, India welcomes investments and the government is keen on expeditious dispute resolution system. <br/><br/>The Minister said, Government wants India to become a centre of global arbitration. He said, international arbitration must also appreciate the social constraints of investments in a country. <br/><br/>Mr Prasad expressed dissatisfaction that there are less number of arbitrators from BRICS countries despite having 42 per cent population of the world. He said, India has given some of the best judges but they are not getting adequate representation in international arbitration.