Justice Sanjiv Khanna said that arbitration is one of the oldest, if not the first method known to the society for adjudication and resolution of disputes.
Though he conceded that there is some reluctance to take recourse to arbitration as a default dispute resolution mechanism, but those aware of its advantages are reaping the benefits of it.
Justice BR Gavai in his speech shared his views on the Indian arbitration landscape. He underscored that despite the importance of India being a hub for international arbitration, it is necessary to be mindful of the fact that the chief majority of arbitration in any jurisdiction would always be domestic arbitration.
Therefore, we have to ensure that even at the domestic level, issues and challenges arising with respect to the arbitration ecosystem is addressed at war footing by both the legislature and the judiciary, he said.
“And in order to ensure that Indian domestic arbitration also flourishes, of course there is a clear need of quality arbitrators who are well-versed with both domestic and international procedures,” he added.
Source: Barandbench
