Gearing For Another Reform In Arbitration: A Tester Or Change-Maker?
In the wake of “internationalisation” which is the present Indian agenda there have been several legal reforms that have been/ are being undertaken and looked closely by the present lawmakers and its enforcers.Today, the agenda of increasing foreign direct investment through liberalisation of existing norms and regulated sanctions is taking precedence and many remedial measures,. Today, the agenda of increasing foreign direct investment through liberalisation of existing norms and regulated sanctions is taking precedence and many remedial measures, including that in the space of international arbitration are being implemented. An important element that is absent, in the 2018 amendment, is the inclusion of different dispute prevention methods to be used in parallel with arbitration; which in the international commercial dispute resolution space have garnered importance in several countries such as the US, Singapore and Hong Kong. Arbitration and litigation in the civil /commercial space cannot be treated as one way streets to resolution and the inclusion of various mechanisms to - create a sense of comfort in the resolution system in the international investment community through timely resolution of cases with enforcement and quality based sanctity; and not repeat ourselves in the types of reforms that we bring to the forefront, is critical.
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