Scope of arbitration evolving: SC Judge

New Delhi, April 30

Supreme Court judge Justice Surya Kant on Sunday said the scope of arbitration in India was evolving, making it a preferred place for arbitration and dispute resolution. He said establishing a sustainable environment for arbitration would invite further businesses and build a trustworthy relationship with foreign businesses.

Speaking at a joint summit on arbitration and dispute resolution organised by the Indian Institute of Management (IIM), Rohtak, at the Delhi High Court, Justice Kant said arbitration incentivised foreign businesses to enter the Indian market and held the promise of smooth resolution of disputes.

“The conditions in India are improving and the scope of arbitration is evolving, making the country a preferred place for arbitration and dispute resolution,” a press statement quoted Justice Kant as saying.

“The MoU entered by the India International Arbitration Centre (IIAC) and IIM Rohtak will help create a good pathway towards arbitration and spread awareness about arbitration to business, particularly in cross border and international disputes,” he said. Justice Kant suggested that institutional arbitration must be encouraged in India and it would be more dynamic and specific with able expertise. — PTI 

Preferred location

The conditions in India are improving and the scope of arbitration is evolving, making the country a preferred place for arbitration and dispute resolution. — Justice Surya Kant