World News | India Reaffirms Commitment to Inclusive, Development-oriented Global Trade Laws at 81st UNGA Session

New York [US], October 20 (ANI): India has reaffirmed its commitment to inclusive, development-oriented and internationally compatible legal frameworks for global trade at the 81st session of the United Nations General Assembly (UNGA).

Rajya Sabha MP Naveen K Jain also highlighted India's legal reforms and support for modernising international trade law.

Also Read | Donald Trump Open to Vladimir Putin-Xi Jinping Talks on Ukraine War.

India's Permanent Mission to the United Nations in New York shared a statement on X on Monday, stating that Jain delivered India's national statement on Agenda Item 76, concerning the report of the United Nations Commission on International Trade Law (UNCITRAL), before the UNGA's Sixth Committee.

The mission stated, “Member of Parliament Shri @Naveen_k_Jain delivered 🇮🇳’s national statement on Agenda Item 76: Report of the @UNCommission on International Trade Law (UNCITRAL) at the UNGA 81st Session, Sixth Committee.”

Also Read | Donald Trump Urges France To 'Close the Borders' As Violent Clashes Trigger Curfews and Mass Arrests.

It added that Jain “Reaffirmed 🇮🇳’s commitment to inclusive, development-oriented and internationally compatible legal frameworks for global trade” and highlighted India's contributions as a founding member of UNCITRAL, alongside domestic reforms in arbitration, commercial dispute resolution and insolvency.

During his address, Jain acknowledged UNCITRAL's role in developing international legal standards and emphasised the need to ensure that such frameworks address the requirements of both developed and developing countries.

“UNCITRAL’s work is essential in ensuring that legal standards remain inclusive, development-oriented, and responsive to the needs of both developed and developing countries,” Jain said.

He also welcomed progress on the Advisory Centre on International Investment Dispute Resolution, stressing the importance of accessible services and clarity regarding membership obligations and financial contributions.

On investor-State dispute settlement reforms, Jain underlined that implementation must respect State consent, preserve governments' right to regulate and ensure procedural fairness and equitable geographical representation.

The Indian MP also supported modernising international arbitration, including the effective recognition and enforcement of electronic arbitral awards, as part of efforts to improve legal certainty and facilitate international commerce.

Highlighting India's digital transformation, Jain pointed to the country's digital public infrastructure and the Information Technology Act, 2000, which recognises electronic records and electronic signatures, as examples of technology facilitating commerce and access to justice.

He further emphasised the importance of UNCITRAL's work on insolvency law, public procurement and secured transactions involving digital assets.

India's experience with the Insolvency and Bankruptcy Code, 2016, he noted, demonstrated the country's efforts to strengthen the efficiency and predictability of corporate insolvency resolution.

Jain concluded by emphasising the importance of flexible, technology-neutral legal frameworks that preserve national policy space while promoting legal certainty and equitable participation in global trade governance. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)