"Time to Build Strong Culture of Commercial Arbitration": CJI Chandrachud
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"Time to Build Strong Culture of Commercial Arbitration" - CJI Chandrachud Chief Justice of India DY Chandrachud emphasized the need for India to develop a robust culture of commercial arbitration. Delivering his address at the Supreme Court of the United Kingdom on Thursday evening, CJI Chandrachud highlighted the evolution of arbitration from a supplementary dispute resolution mechanism to a primary choice for commercial entities worldwide. He stressed that setting up effective arbitration institutions can significantly boost its practice in the Global South. Evolution and Importance of Commercial Arbitration Chief Justice Chandrachud noted that arbitration has evolved significantly, becoming the primary dispute resolution mechanism for commercial entities globally. "I firmly believe that now is the time for countries such as India to step up to the occasion to create and promote a culture of commercial arbitration. The robust institutionalization of arbitration will f...