This Century Will Define India's Ascent As Global Arbitration Leader: Justice Hima Kohli at India-MENA Arbitration Summit
The function was attended by Jehad Kazim, the executive director of the Dubai International Arbitration Centre and former
This Century Will Define India's Ascent As Global Arbitration Leader: Justice Hima Kohli at India-MENA Arbitration Summit
The function was attended by Jehad Kazim, the executive director of the Dubai International Arbitration Centre and former Supreme Court judges
The International Arbitration and Mediation Centre (IAMC), Hyderabad organized a two-day Arbitration Summit (February 17-18, 2024), at Hyatt, Gachibowli. The event was a confluence of leading arbitration experts from India and the Middle East and North Africa (MENA) region.
Supreme Court judge Justice Hima Kohli was the Chief Guest at the function. The congregation comprised of judges, arbitrators, senior advocates, general counsels, law firm partners, industry leaders and members from the business and legal fraternity.
The welcome address was delivered by the registrar of IAMC, Tariq Khan, who highlighted the key achievements of the Centre since its inception in December 2021.
Justice Kohli stated that the India-MENA Arbitration Summit was organized to bring global experts from India and the MENA region to bolster arbitration in the international legal paradigm.
In her keynote address during the inaugural session, she expressed, “India's dynamic economic and legal progress, in synergy with the MENA region, positions it as an emerging leader in global dispute resolution. This century will define India's ascent as a global arbitration leader, particularly in collaboration with the MENA region in the international legal arena.”
Justice Kohli added that through amendments and reforms, the legal regime in India has kept pace with the ever-evolving business community, and the country is all set to embrace unprecedented economic and business growth.
To foster the growth of business relations between India-MENA regions, she further commented, “The added benefit of geographical and cultural proximity between India and MENA simplifies access to local legal expertise and imbues the arbitration process with invaluable region-specific insights. The shared heritage between the countries bolsters communication and mutual understanding, significantly enhancing the prospects for effective dispute resolution. These factors collectively amplify India's central role on the global arbitration stage, reflecting its burgeoning economic and legal stature.”
While stressing the judiciary's unwavering support in the growth of arbitration in the country, the apex court judge stressed, “It is imperative to recognize that the essence of justice lies not only in honoring and enforcing arbitral awards but also in safeguarding the interest of fairness and equity. It must be underscored that judicial intervention on grounds of patent illegality or public policy ought to be an exceptional measure to be deployed sparingly and with utmost caution.”
“The Indian judiciary, guided by the principles of minimal interference, exercises prudence and restraint in interfering with arbitral awards. Achieving an equitably diversified and globally attuned arbitration framework demands the fusion of ancient wisdom with contemporary advancements and the constant pursuit of impartiality, innovation and broad consensus,” she added.
Justice Kohli concluded her address by affirming, “As India positions itself at the forefront of international dispute resolution, the collaborative India-MENA corridor initiative has not only the potential to yield bilateral benefits, but also to significantly raise the bar for international arbitration globally.”
While addressing the audience, Justice Alok Aradhe, the chief justice of the Telangana High Court stated that the judiciary had a statutory duty to identify cases that were fit for resolution through alternative means. Therefore, it was important for the courts to ensure the sanctity of the arbitration process and respect party autonomy.
The former judges of the Supreme Court, Justice L. Nageswara Rao, and Justice RV Raveendran were also present during the inaugural session. They encouraged the institutionalization of arbitration to bring professionalism and efficiency into the process and substantially reduce costs and delays.
Meanwhile, Jehad Kazim, the Executive Director of the Dubai International Arbitration Centre (DIAC) mentioned that the investment of the United Arab Emirates (UAE) in India reflected the deep ties between the two regions. She encouraged the audience to view the Summit as a platform to harbor solutions that addressed the challenges for a sustainable future for arbitration and foster its growth in India and the UAE.