The NITI Aayog and ICC International Court of Arbitration organised the inaugural Training-cum-Brainstorming Workshop on Best Practices in International Arbitration in New Delhi today.Moving towards a New India in 2022, ensuring legal reform is a key and critical priority. Complementing ‘Make in India’ vision with ‘Resolve in India’, strong alternate dispute resolution mechanisms are important levers in encouraging the Ease of Doing Business and Ease of Living in India.The workshop was inaugurated by the chief guest, Justice Arjan Kumar Sikri, Judge, Supreme Court of India, and was presided over by P.P. Chaudhary, MoS, Ministry of Law and Justice. Amitabh Kant, CEO, NITI Aayog was also present during the workshop.The workshop is part of on-going efforts to institutionalize and streamline dispute resolution to make India a hub for doing business. Following the international conference on arbitration held in 2016 and the National Law Day conference in 2017, the present workshop continues to encourage and highlight the need for understanding and implementing arbitration across the spectrum of commercial contracts, with over 200 senior officers from Central and State Governments, and Public Sector Undertakings participating.
With government’s thrust on ‘Make in India’, it is important for investors, both domestic and international, to have faith in the dispute resolution mechanism in India. In this regard, a well drafted dispute resolution mechanism and a comprehensive understanding of best practices and procedures would complement the initiative and give the much-needed impetus to effective and timely enforcement of contracts.The workshop covered basic concepts of international arbitration and included best practices on drafting of arbitration agreements, factors to consider when deciding on the seat, venue, institution and governing law. It also covered topics related to the selection of arbitrators; enforcement of arbitral awards and the role of courts before, during and after the arbitration. The topics of the information sharing session were delivered by world class faculty and practitioners from the United Kingdom, Singapore, Paris and India.The training-cum-brainstorming workshop is an important part of the on-going endeavour by NITI Aayog in a co-operative setting to skill and prepare senior officers for global best practices and give them the opportunity to gain expertise in enhancing the ability to understand, review, revise and draft Arbitration related aspects of contracts.
NITI Aayog Encouraging Arbitration in India
NITI Aayog first highlighted the importance of Arbitration by organizing a successful two-day conference on international arbitration in 2016 with over 1400 participants, which was presided over by the President of India and Prime Minister of India and saw participation from the Chief Justices of all SAARC countries. The conference explored the vitality of commercial arbitration, both domestic and international, as the preferred method of resolving disputes between parties. NITI also organized the two-day National Law Day Conference in 2017, with the Law Commission of India, which treaded new ground with debate and discussion on a multitude of legal aspects, including dispute resolution. This conference also saw over 1400 participants on each day of the event and the participation of the President of India, the Prime Minister, the Chief Justice of India, Union Cabinet Ministers and eminent personalities.