Should We Change Our Mindset to Embrace Arbitration?

Synopsis
Key Takeaways
- Shift in Mindset: Emphasizing the need for a change in approach towards dispute resolution.
- Arbitration Advocacy: Highlighting the importance of arbitration beyond traditional litigation.
- Constitutional Insights: Noting historical preferences for arbitration by the Constitution makers.
- Need for Support: Recognizing the necessity for a supportive ecosystem for arbitration professionals.
- Institutional Framework: Advocating for institutional arbitration to ensure efficacy and structure.
New Delhi, Oct 14 (NationPress) Rajiv Mani, the Secretary of the Legislative Department at the Ministry of Law and Justice, urged a significant shift in the philosophy, approach, and mindset of individuals to consider alternative methods of dispute resolution such as arbitration, as stated by an official on Tuesday.
During the closing session of the inaugural cohort of the Indian Institute of Corporate Affairs (IICA) Certified Arbitration Programme (ICAP), Mani highlighted the critical role of arbitration as a viable option for resolving disputes, in contrast to conventional court litigation.
He pointed out that the framers of the Constitution favored arbitration in specific instances during the transitional phase of India’s constitutional history, which is often overlooked.
The valedictory event for the first batch took place on October 12 at the IICA Campus in Manesar. This significant gathering was organized by the Centre of Excellence in Alternative Dispute Resolution (CEADR) under the Ministry of Corporate Affairs.
The initiative aimed to cultivate a new generation of global arbitration experts.
Previously, P.K. Malhotra, the former law secretary, recognized the capabilities and vast potential of arbitration practitioners in India; however, he expressed concerns regarding the absence of an adequate supporting ecosystem.
He also highlighted the necessity for the establishment of the Arbitration Council of India to implement necessary changes for its effective operation.
The two-day Campus Immersion and Valedictory Session commenced with an inaugural speech by Justice Hemant Gupta, Chairperson of the IIAC, on October 11.
In his keynote address, Justice Gupta praised IICA’s efforts in enhancing the arbitration framework in India.
Furthermore, considering India’s economic progress, he stressed the importance of developing a strong alternative dispute resolution system to boost investor confidence.
He also underscored the need for institutional arbitration to ensure the organized and efficient conduct of arbitral processes in India.
Gyaneshwar Kumar Singh, Director-General & CEO of IICA, shared insights from various studies on arbitration and emphasized the importance of standardizing the arbitration landscape through institutional frameworks in India.
He also addressed concerns regarding the enforcement of arbitral awards and proposed strategies to alleviate these challenges.