Now Reading: Why arbitration in India is not delivering
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Why arbitration in India is not delivering
General counsels of multinational companies are growing wary of arbitration in India due to rising costs, delays and unpredictability, according to a Barandbench.com analysis. The article argues that arbitration is not dead…
The Story in Brief
General counsels of multinational companies are growing wary of arbitration in India due to rising costs, delays and unpredictability, according to a Barandbench.com analysis. The article argues that arbitration is not dead but at a crossroads, facing structural and procedural challenges that hinder its effectiveness. It highlights three pillars for success: investing in the arbitration clause, selecting arbitrators carefully, and designing dispute resolution frameworks. Similar criticisms exist in mature hubs like Singapore and London, but they have responded with reforms. The debate should shift from abandoning arbitration to diagnosing its flaws.
The Indian Opinion
The alarmist cry that arbitration is dead ignores that every arbitration hub faces the same complaints. The equally lazy view that arbitration will magically solve court pendency overlooks poor drafting by in-house teams. Indian general counsels must stop treating arbitration clauses as boilerplate. The real test: will corporate contracts in the next year show bespoke dispute resolution clauses, or more cut-and-paste jobs?
Source: barandbench.com
This story was synthesised by AI from the source linked above.
