INSTITUTIONAL ARBITRATION AND IIAC ADOPTION

• Institutional arbitration = dispute resolution administered by a specialized arbitral institution under its own rules, as opposed to ad hoc arbitration; India has historically been ad-hoc-heavy.
• The India International Arbitration Centre (IIAC), an autonomous body declared an institution of national importance, was established under the IIAC Act, 2019 to make India a hub of institutional arbitration.
• Examinable as part of ADR mechanisms under Polity/Governance and as an ease-of-doing-business / contract enforcement lever under Economy.