New Delhi: Chief Justice of India J S Khehar on Saturday strongly favoured keeping the government away from the arbitration process to help promote confidence of the business community in international arbitration available here.
He hoped that the Narendra Modi government’s ‘Make in India’ initiative would give a fillip to International Commercial Arbitration (ICA) in the country.
Speaking at the inaugural session of the two-day ‘Engaging Asia Arbitration Summit’, the CJI said, “At the highest level of planning in Indian government, efforts are going on that neither government nor its agencies will have any interference with the arbitral process. Government interference will be describable as zero role. “The zero interference in ICA will give room for understanding of foreign traders in India that the process is neutral. These initiatives will provide a great sense of confidence and trust to all those involved in ICA,” he said.
Lauding the efforts of judiciary and the government to encourage arbitration in India, Justice Khehar said the Supreme Court has also adopted a consistent practice of providing arbitrators from a neutral country.
“So in my view, these two initiatives, one by government of having a zero role and the other by the courts when they appoint arbitrators in an international arbitration from a neutral country, will promote further the confidence of the trading community in international arbitration,” he said.
The CJI, giving several reasons for suggesting India to be the centre of arbitration in Asia, said the country is deeply entrenched in a culture of peace that transcends religion and the businessmen here are known for their secular values as they trade in an environment of diversity.
He said this brings flexibility and adaptability, adding that India’s potential for ICA is set to increase on an exponential scale as more foreign investment is coming here. (PTI)
