A High Level Committee under the Chairmanship of Justice BN Srikrishna which was set up to review the Institutionalization of Arbitration Mechanism in India has submitted its report. <br/><br/>The committee has recommended for setting up an Autonomous Body, Arbitration Promotion Council of India, APCI having representatives from all stakeholders for grading arbitral institutions in India. <br/><br/>The APCI may recognize professional institutes providing for accreditation of arbitrators. The APCI may hold training workshops and interact with law firms and law schools to train advocates with interest in arbitration and with a goal to create a specialist arbitration bar comprising of advocates dedicated to the field. <br/><br/>It has also recommended for creation of a specialist Arbitration Bench to deal with such Commercial disputes, in the domain of the Courts. Changes have been suggested in various provisions of the 2015 Amendments in the Arbitration and Conciliation Act with a view to make arbitration speedier and more efficacious and incorporate international best practices. <br/><br/>The Committee has also the opinion that the National Litigation Policy must promote arbitration in Government Contracts.<br/><br/>Speaking on the report, Law Minister Ravi Shankar Prasad said that Government will look at the recommendations and laws will be amended according to need. He said, the Government is committed for speedy resolution of commercial disputes and to make India an international hub of Arbitration.