India becoming hub of international arbitration: CJI
New Delhi: Chief Justice of India J S Khehar today said India is becoming a hub of international arbitration and the government’s initiative to work towards zero interference in the process will promote confidence among foreign traders.
Justice Khehar said that potential for international arbitration is increasing due to foreign investment.
Speaking at a two-day seminar ‘Engaging Asia Arbitration Summit’, the CJI said government’s ‘Make in India’ scheme will make the country a favoured market among the emerging ones.
“At the highest level of planning in Indian government, efforts are on that neither the government nor its agencies will have interference in international arbitration process.
The zero interference by the government will give room for foreign traders in India that the process here is neutral…
“In my view, it will promote further confidence of traders in arbitration in the country,” he said.
Justice Khehar noted that India has a talent pool of lawyers and arbitrators and the future of international commercial arbitration in Asia must commence from India. PTI SKV AG RRT