India's economic rise sparks demand for efficient dispute resolution: The evolution of institutional arbitration and the rise of India as a global arbitration hub

Mahaseth, Harsh and Sharma, Anvita (2024) India's economic rise sparks demand for efficient dispute resolution: The evolution of institutional arbitration and the rise of India as a global arbitration hub. The Arbitration Workshop.

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Abstract

India's remarkable ascent as a key player in the global economy continues, characterized by a surge in investments both within and beyond its borders. This economic dynamism has given rise to an escalating demand within the international business community for a reliable and definitive method to address disputes related to India. Faced with a significant backlog of cases and time constraints, courts are increasingly open to exploring alternative dispute resolution methods. Data indicates that as of September 2023, a staggering 80,344 cases were pending before the top court, a figure exacerbated by inadequate infrastructure and a shortage of judges grappling with an increasing workload. With arbitration emerging as a pivotal and favoured approach for dispute resolution, both domestically and globally, it is imperative for the Government of India, in collaboration with the Judiciary, to assume a pivotal role in aligning and enhancing the efficiency of arbitration processes

Item Type: Article in News Papers and Magazine
Keywords: UNCITRAL Model Law of Arbitration | Arbitration and Conciliation Act, 1996 | International Arbitration Centre Bill
Subjects: Social Sciences and humanities > Social Sciences > Social Sciences (General)
Social Sciences and humanities > Social Sciences > Law and Legal Studies
JGU School/Centre: Jindal Global Law School
Depositing User: Subhajit Bhattacharjee
Date Deposited: 22 Jan 2024 09:47
Last Modified: 22 Jan 2024 09:47
Official URL: https://www.thearbitrationworkshop.com/post/india-...
URI: https://pure.jgu.edu.in/id/eprint/7236

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