SC Judge: Improving arbitration ecosystem will have a positive impact on ease-of-doing-business

On Saturday, Supreme Court Judge, Justice V. Ramasubramanian stated that, "Improving arbitration ecosystem will have a positive impact on ease-of-doing-business".

Justice V. Ramasubramanian was speakling at International Arbitration Summit organized by Berkeley Global Society in association with Taxortium at Indian Habitat Centre, New Delhi. LatestLaws.com was Media Partner for the event. 

Justice V. Ramasubramanian further added that,"Measures have been taken in the direction. As a result, India has moved up many notches on the Ease of Doing Business Index. If conducive environment is created favoring arbitration, then it will definitely improve climate for investment".

He stated that institutions should be encouraged to become part of Arbitration Council of India as he asked, "how would people get to know what is actually good for them?"

He further explained that,"Grading institutions is for the purpose of helping people take an informed decision... therefore, we should promote good arbitration institutions and help them to improve on the grading system.

Justice M.M. Sundresh of Madras High Court in his address stated : "It is important to strengthen domestic arbitration environment, and institutionalizing it, as we have done in Madras High Court".

Senior Advocate PS Narsimha while speaking at the event stated that focus of arbitration should be to constituional ideals and subserve the citizens. He further added that the Courts and Arbitration mechanisms should develop parallely.  

Senior Adv. Narsimha further propogated the need to have a benchmark institutions which lays down norms, guidelines, instills confidence in the people towards institutional arbitration so that people move on from adhoc arbitratioon . 

Advocate LK Nidhumuri, Partner, Indus Law talked about removing government interference in the Arbitration Council of India as it is a step back in the arbitration. He further discussed about conflct of interest issue which arises due to government interference in accredition of arbitral institutions as Govt. of India is itself actively a participant in arbitration matters. 

This postion was supported by Christoph Kauffmann, Senior Associate, Osborne Clarke, Germany who added that issue of interference by Govt. of India with the judicial system gives rise to issue of separation of powers. Christoph Kauffmann further added that as little as possible interference of Courts in Arbitration specially in the International Commercial Arbitration. 

Christoph Kauffmann pointed out the factors that play active role in promotion of International Arbitration are the legislative regimes, attitude of courts towards the legislative regime and role of parties to the dispute.