All pending commercial disputes that involve a claim of Rs 1 crore or more will now be transferred to special commercial benches in select high courts across the country. The move, which follows an ordinance approved by the government last week, should speed up the process of resolving commercial cases, thus improving the ease of doing business in India, the Press Trust of India reported.

While the exact number of pending cases has not been disclosed, the Law Ministry said it runs into the thousands. The new benches will be set up in the Calcutta, Madras and Himachal Pradesh high courts, among others. The ordinance is part of the various pro-business steps in the country the government has taken in the last year. Earlier this month, finance minister Arun Jaitley said the Centre was working on bringing down corporate tax from 34% to 25% over the next four years.