Growth of Indian Arbitration
India's rise in commerce has led to more commercial disputes, making arbitration a popular solution.
The court system is overloaded, making arbitration under specialized institutions an attractive alternative.
However, there's concern if the Indian arbitration system is truly living up to its potential and becoming a global hub.
Role of Arbitrators
The success of Indian arbitration depends on the quality of arbitrators who manage proceedings and make decisions.
Arbitrators are crucial for the efficiency and credibility of the arbitration process, including handling procedural issues and issuing enforceable awards.
Challenges and Exclusion
Focus on training arbitration lawyers is common, but there's little emphasis on developing elite Indian arbitrators.
Indian arbitrators are often absent from international disputes, mainly due to a preference for retired judges, limiting their exposure.
The assumption that former judges automatically make good arbitrators is flawed, as arbitration requires more than just judicial experience.
Necessary Improvements
The pool of Indian arbitrators needs diversification, including experts from different fields, not just retired judges and lawyers.
Arbitrators should undergo rigorous training and certification through specialized programs to develop the skills needed for international arbitration.
This will help establish a robust arbitration system and raise India’s standing in the global arbitration community.
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