New Delhi [India], June 5 (ANI): Chief Justice of India BR Gavai stated that allowing foreign law firms to enter India will pave the way for introducing global best practices in the Indian arbitration ecosystem, thereby improving the overall quality of arbitration in the country. He assured that the rules notified by the Bar Council of India (BCI) will safeguard the rights of Indian legal professionals.
CJI Gavai made these remarks at the International Conference on Arbitrating Indo-UK Disputes, organised by the Indian Council of Arbitration (ICA) in London on Thursday.
“For India to emerge as a leading hub for international commercial arbitration, the international arbitration community must have access to high-quality, independent, and impartial arbitrators, both in fact and perception. India’s potential for becoming an international arbitration hub is vast, and Indian lawyers have the potential to become arbitrators in global demand. However, this potential remains largely unrealised,” he said.
He highlighted India’s continuous efforts to become a global arbitration centre by developing a progressive legislative framework, a pro-enforcement judiciary, and strong institutional support.
The CJI pointed out the growth of several arbitration institutions in India, including the Delhi International Arbitration Centre (DIAC), Mumbai Centre for International Arbitration (MCIA), India Arbitration and Mediation Centre in Hyderabad (IAMCH), and the Nani Palkhiwala Centre for International Arbitration. These institutions have played crucial roles in managing disputes outside the traditional judicial framework.
Additionally, he noted the establishment of the India International Arbitration Centre (IIAC) in New Delhi in 2019 — an autonomous institution supporting independent arbitration in India.
“These arbitration centres emphasize professionalism, efficiency, transparency, and impartiality in arbitral proceedings by offering high-quality services and maintaining panels of accredited arbitrators at both national and international levels,” CJI Gavai said.
He also called the establishment of international arbitration centres in both India and the UK an encouraging development for resolving commercial disputes, reflecting a shared commitment to fair and efficient dispute resolution aligned with global standards.
Further, CJI Gavai underlined the role of technology in the Indian legal system, enabling online dispute resolution through virtual arbitration and mediation, making physical distance irrelevant.
(ANI)
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