India should promote culture of commercial arbitration, says CJI

Satya Prakash

New Delhi, June 7

Noting that the time has come for India to promote a culture of commercial arbitration, Chief Justice of India DY Chandrachud has said setting up effective arbitration institutions can boost its practice in the Global South.

Speaking on “Law and Practice of commercial arbitration: Shared understandings and developments in the UK and India” on Thursday at the UK Supreme Court, CJI Chandrachud said institutionalisation of arbitration will help to develop such a culture of settling commercial disputes through arbitration.

“Technology and artificial intelligence add value to the services provided by arbitral institutions in matters such as reviewing documents or transcribing the proceedings,” the CJI said, adding that adoption of technology at all levels of arbitration proceedings will make such proceedings more efficient and more accessible.

“I firmly believe that now is the time for countries such as India to step up to the occasion to create and promote a culture of commercial arbitration. The robust institutionalisation of arbitration will further the culture of arbitration in the Global South,” the CJI said in the presence of the UK Supreme Court President Lord Reed, Deputy President Lord Hodge and other judges.

Highlighting that India has set up the India International Arbitration Centre and the Mumbai and Delhi International Arbitration Centre, the CJI said mere creation of institutions was not enough.