A New Era of Arbitration for India. Will it Rise to the Challenge.
India is on the cusp of huge change in its alternative dispute resolution mechanism.
Series of majors initiatives by both the Law Makers (Govt. of India) and the Judiciary (Supreme Court) recognise the imperative need for promoting Institutional Arbitration as the form of alternative dispute resolution & encourage Individuals, companies, Corporates, PSUs & other litigants to embrace it so as to both promote, propagate and foster less costly method of litigation.
The law commission through its various report including its 246 report has suggested to the Govt. various measures to promote institution arbitration in the form of Key Recommendations to the Arbitration and Conciliation Act, 1996.
The Government on its parts has recently promo-gated the Arbitration and Conciliation (Amendment) Ordinance, 2015 which was placed before the Parliament at the recent winter session of Parliament.
All these argue well for India which is is encouraging foreign companies to come & invest here under the Leadership of Hon’ble Prime Minister’s Campaign of “Make In India”.
FDI & Make in India can only be a success if there is a robust arbitration mechanism available in India especially Institutional Arbitration coupled with other forms of ADR mechanisms.
With this thought Process in Mind and Mindful of its Social Obligation as a responsible body, Indian National Bar Association (INBA), thought it prudent to start its series of think thank interaction.
29th January, 2016
We hereby therefore request each & every one of you to kindly contribute their thoughts & proposed action plan on “What Indian Arbitration need to do to make institutional arbitration success in India.” Whereby India is able to compete as an International Arbitration hub like of Singapore, Germany, Hongkong, London,US etc.
Your Suggestions in the form of articles for the backgrounder paper should be of 2 Pages.
The last date for submission of paper would be 20th January, 2016.
Each one who contributes towards the backgrounder paper will have his Article published with name and picture.
Archana Aggarwal | [email protected] | +91 9971532995