Indian arbitration on a slow road to death: Greatest resistance to arbitration posed by govt depts & PSUs

Indian arbitration on a slow road to death: Greatest resistance to arbitration posed by govt depts & PSUs
© Provided by The Financial Express
The ultimate aspiration was to get foreign parties to opt for an India-seated arbitration, much like Singapore where 80% of disputes arbitrated comprise international litigants.
By Payal Chawla
When the Arbitration and Conciliation Act 1996 was amended in 2015, to ensure time-bound completion of arbitration with minimal judicial interference, the general consensus was that India was finally ready to be the next arbitration destination. The ultimate aspiration was to get foreign parties to opt for an India-seated arbitration, much like Singapore where 80% of disputes arbitrated comprise international litigants.

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