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India poised to be premier destination for commercial arbitration mediation at intl level SC judge

India poised to be premier destination for commercial arbitration mediation at intl level SC judge

Panaji, March 24 (PTI) The quickest and easiest resolution to disputes is through arbitration and mediation, Supreme Court judge Hima Kohli said.
India stands as a reservoir of untapped potential, poised to ascend as a premier destination for commercial arbitration and mediation on the international level, the apex court judge said.

Speaking as the chief guest at the Conference on Ease To Justice Through Arbitration and Mediation in Commercial Disputes organised by the Indian Council of Arbitration (ICA) at Vagator in North Goa on Saturday, she said India is at the forefront of business and global transactions and disputes were bound to arise.

“The quickest and easiest resolution would be through alternate dispute resolutions like arbitration and mediation. The enforcement of the ADR award is imperative to keep the economy buoyant,” she asserted.
The ICA has been propagating the cause of ADR, particularly arbitration and mediation, for a long time and holding such conferences is a way forward, the SC judge said.

“Court litigation has to be the primary focus, but if the alternatives are developed well, it will take the burden off the court. It ensures decision-making and brings a closure between the disputing parties. Nothing can be better than that,” she added.

“In today’s world, thanks to globalisation, everything is moving at a fast pace. This has led to increased commercial transactions, with businesses spanning across cultural and geographical boundaries. At the same time, this has thrown up a variety of legal challenges,” she said.

International trade and investments have grown phenomenally, making dispute resolution more complex, she said, adding these disputes can affect not only the parties involved but also the global community.

“To address these challenges, Alternative Dispute Resolution (ADR) has emerged as a powerful tool for businesses. ADR is known for its flexibility, efficiency and adaptability, making it valuable for navigating the complexities of global business,” she said.

Justice Kohli said with a forward-leaning legislative architecture, a judiciary committed to arbitration enforcement and solid institutional underpinnings fortified by the rule of law, India is increasingly dismantling geographical boundaries through digital technology to facilitate online dispute resolution.

“This progress is a testament to the strength of our legal framework, our judiciary’s dedication, and our legal professionals’ resilience and ingenuity. Undoubtedly, India stands as a reservoir of untapped potential, poised to ascend as a premier destination for commercial arbitration and mediation on the international level,” Justice Kohli said.

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