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India is making bold strides towards becoming a global semiconductor and electronics manufacturing leader. The aggregate valuation of the semiconductor market here stood at USD 53.2 billion in 2024 and is poised to expand at a compounded annual growth rate of 12.45% to reach USD 161 billion by 2033[1]. Recognising the sector’s ambition and potential, the Ministry of Commerce and Industry introduced significant amendments to the Special Economic Zones (SEZ) Rules in June 2025, a pivotal milestone in this journey.

Continue Reading India’s semiconductor surge: SEZ reforms set the stage for global leadership
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Introduction:

Technology has fundamentally transformed the financial services industry, with many contemporary financial institutions (“FI”) adopting a digital-first or exclusively online business model. With third-party technology service providers handling critical functions for FIs, as outsourced partners, regulators such as the Reserve Bank of India (“RBI”), Securities and Exchange Board of India (“SEBI”) and the Insurance Regulatory and Development Authority of India (“IRDAI”) have issued their respective guidelines on outsourcing/ adoption of cloud services.[i] Additionally, FIs are also required to comply with general data protection laws.[ii]

Continue Reading FIG Paper (No. 46 – Series 3): Contracting Considerations for Financial Institutions

This Is the End - What Now The Aftermath of an Award being Set Aside

There is scarcely any aspect of the Arbitration and Conciliation Act, 1996 (“Act”), which has not seen the spectre of ad nauseum arguments and judicial pronouncements. Concepts have been devised, lauded, followed, and then set aside. Lawyers have forcefully argued for awards to be set aside, and Courts have assiduously upheld the essence and spirit of the concept of arbitration. The law has been set, and then upturned, and in this entire process, not much judicial/ legislative light seems to have fallen on the protagonist of this piece. The Act only hints at what happens after an award is set aside, and the ‘hint’ paints a somewhat grim picture.  Continue Reading This Is the End: What Now? The Aftermath of an Award being Set Aside