Chief Justice of India Surya Kant observed that international arbitration is increasingly mirroring the delays, costs, and procedural complexities of traditional litigation. Speaking in London, he cautioned that arbitration faces growing challenges relating to efficiency, accessibility, affordability, and effective dispute resolution.
CJI B.R. Gavai, speaking at a London summit, proposed four urgent reforms for India’s arbitration: ensuring finality of awards, promoting institutional arbitration, enforcing stricter timelines to prevent delays, and increasing diversity among arbitrators. His vision aims to enhance India’s arbitration landscape, making it more efficient, reliable, and inclusive.
On Monday(8th July), The Supreme Court of India has highlighted the inefficiencies in arbitral proceedings, citing extensive documentation, prolonged hearings, and unnecessary grounds for challenge. Urging for brevity and efficiency, the Court emphasized the need for reforms to ensure expeditious and cost-effective dispute resolution. This call to action underscores the complexity and urgency of addressing arbitration inefficiencies in the country.
