Question

According to India International Arbitration Centre Act, 2019, the India International Arbitration Centre is an institution of ____ importance.

• A. public
• B. commercial
• C. national
• D. economic

Hint:

If a statute expressly uses the phrase “institution of national importance,” always select “national.”

Answer 1

The Correct Option is C

Step 1: Understanding the Act.
The India International Arbitration Centre Act, 2019 was enacted to establish an independent and autonomous arbitration institution in India.
Step 2: Statutory description.
The Act expressly declares the India International Arbitration Centre to be an institution of national importance, highlighting its significance in strengthening arbitration in India.
Step 3: Elimination of incorrect options.
The statute does not describe the Centre as an institution of public, commercial, or economic importance in explicit terms.
Step 4: Conclusion.
Hence, the correct answer is (C) national.