On 01-03-2025, the India International Arbitration Centre (‘IIAC’), in partnership with Baker McKenzie, organised colloquium on “International Arbitration: Indian Perspective” at Bharat Mandapam in New Delhi. The event was graced by the presence of many luminaries.
IIAC was established in 2022 in terms of the India International Arbitration Centre Act, 2019 as an independent and autonomous body for enabling institutional arbitration. It aims to inter alia, provide facilities and administrative assistance for arbitral proceedings, maintain a panel of arbitrators and promote studies and undertake teaching in the field arbitration, mediation and alternative dispute resolution matters.
In the inaugural session, Justice (Retd.) Hemant Gupta, Judge, Supreme Court of India, graciously commenced the discussion by deliveringwelcome remarks, setting the tone for a meaningful and insightful session. He underscored the development of arbitration law in India, stating that, despite taking steps, India had not made any significant impact. He remarked that institutional arbitration was not given the priority that it should have been given, and the ecosystem had to be changed to make people opt for it.
He also shed light on how foreign collaborators insisted on not having India as the seat of arbitration and not having Indian arbitrators. He stated that despite more than 50% of arbitration work being generated by Indian firms, there were only 3% of arbitrators appointed for Indians at the Singapore International Arbitration Center. He remarked, “I think either we lack confidence, or we are swayed by the glare of other countries. We are not in the league of International Arbitration.”
Lastly, he concluded the speech by encouraging the audience to opt for India as the arbitration centre and thanked them for their attendance.
“It is high time that Indian law firms should opt for arbitration by India-seated arbitration. We should insist on the arbitration clause to opt for arbitration in India rather than in the other jurisdictions.”
-Justice (Retd.) Hemant Gupta
Mr. R. Venkataramani, Attorney General for India, in his speech, highlighted how legal practitioners regularly had conversations about what our courts and governments are doing wrongly or should be doing correctly. He stated that the legal fraternity was willing to enter the territories occupied by many nations and centres of international arbitration by showcasing that our skills, equipment, and knowledge in dispute resolution, were second to none.
“The critique of judgments is an exciting menu. We have enlightened minds who have concerns and competence to do so.”
– Mr. R. Venkataramani
While exploring the connection between domestic and international law, Mr. Venkataramani highlighted the connection between legal development with economic globalisation, emphasising the need to see the larger global picture while addressing concerns about domestic practices. He stated that as policy and legal frameworks were becoming connected due to increasing trade, investments, and development, tensions should be noticed and addressed as early as possible.
Mr. Venkataramani underscored the significance of the inauguration of the Arbitration Bar of India in institutionalising the arbitration process. He also emphasised the need for a New Delhi Convention on Arbitration to capture and utilise regional experience. The Convention would address the regional developments of the last two decades, especially from the perspective of India, which was a key player.
Concluding his enlightening address, he earmarked two major issues of concern for Indian Arbitration, namely, standing by party autonomy, ethics, minimal court intervention, and reducing judicial workload.
In his opening remarks, Dr. Kamalinne Pinitpuvadol, Secretary-General, Asian-African Legal Consultative Organization (‘AALCO’), expressed his gratefulness for the organisation of the event and briefly introduced AALCO.
Thereafter, Vice-President of India, delivered an enlightening keynote address.
Concluding the inaugural session, Mr. Garv Malhotra, Partner, Skywards Law, thanked Mr. Dhankar for his encouraging, passionate yet realistic remarks which had set the tone for the upcoming discussions.
