Vice President Jagdeep Dhankhar addressed a discussion organized by the India International Arbitration Center (IIAC) at Bharat Mandapam in New Delhi. Meanwhile, he said that the mediators also play an important role like members of the bar and I am very carefully saying that there is complete strict control over a section of those involved in the arbitration process. This strict control arises from judicial powers. And if we look at it from objectively, then it is extremely painful.
India International Arbitration Center Dialogue
Jagdeep Dhankhar further said that there is a rich human resource in every region in this country. Oceanology, oceanography, aviation, infrastructure and what not? Disputes that arise are related to experience, which is regional. Unfortunately, we have seen mediation in this country only from narrow point of view, as if it is a judicial decision. This is more than a judicial decision. This is not a traditional decision that has historically evaluated globally.
Emphasizing the need to include experts in the region in mediation, the Vice President said that the former Chief Justice of the country had commented that the process had now become a club of old friends. He was talking about the participation of retired judges in the arbitration process. I want to clarify that I have no misunderstanding. Retired judges in this country are an asset for the arbitration process. They give us reliability. I know that some former Chief Justice and Judges have been highly praised globally for their expertise in international commercial arbitration, but there are some areas where intermediary tribunals should be complemented by experts in areas such as oceanography, aviation, infrastructure.
The Vice President expressed concern over the mediation system.
Vice President Dhankhar said that now the time has come when India is emerging globally in every field. Why is India not emerging as a global dispute solution center? If I think with myself What do they have that we do not have? Their infrastructure is not very good compared to the infrastructure we have and we do not even have a cultural center where one can actually connect.
Go to Kolkata, go to Jaipur, go to Bangalore, go to Hyderabad, go to Chennai, go to any part, go out of the metro, then see. I have seen the development of arbitration centers in Dubai and Singapore in the last ten years. Without self-assessment, I can say that we are nowhere. We are not in the minds of those people. With whom we have business relations regarding our international commercial arbitration.
