New Delhi, Aug 28 (IANS) Union Minister of Law and Justice (Independent Charge) Arjun Ram Meghwal said on Thursday that the government’s reforms aim to create a transparent, efficient, and world-class arbitration ecosystem.
He was speaking at an event organised by the India International Arbitration Centre (IIAC) on the theme ‘Selection of Arbitrators in an India-Related Dispute’, during Singapore Convention Week 2025.
The dialogue brought together senior officials from India and Singapore to discuss the pivotal role of both the countries in shaping the future of global dispute resolution.
Delivering the keynote address, Arjun Ram Meghwal traced arbitration’s deep historical roots in India — from traditional community mediation practices to the Arbitration Act of 1940 and the Arbitration and Conciliation Act, 1996.
Reaffirming India’s ambition to become a global arbitration hub, he also drew from Indian tradition by referencing Lord Krishna as the first mediator and arbitrator.
“Our reforms aim to create a transparent, efficient, and world-class arbitration ecosystem. Singapore is a valued partner in this journey,” Arjun Ram Meghwal said.
In his welcome address, Jimmy Yim, representing the partner country, highlighted India’s historic and continuing influence across Asia and beyond.
He noted Singapore’s growing economic and legal ties with India, and emphasised that between 2020–2024, the Singapore International Arbitration Centre (SIAC) emerged as Asia’s leading arbitration hub and second globally, with Indian law frequently chosen as the governing law in disputes.
Yim stressed that arbitrator appointments are central to this growing cooperation and welcomed the dialogue as a platform to deepen India–Singapore collaboration in arbitration.
Placing the discussions in a broader context of bilateral relations, Shilpak Ambule, High Commissioner of India to Singapore, spoke of robust trade, investment, and state-level partnerships.
“Singaporean companies are expanding rapidly in India, while Indian firms are deepening their presence in Singapore. Cooperation in arbitration adds an important layer to this strategic partnership,” he remarked.
Law Secretary Anju Rathi Rana underlined the importance of strengthening institutional frameworks and investing in capacity-building for arbitration.
“Institutions thrive when stakeholders believe in them. Through conferences, capacity-building programmes, and outreach, institutions like the IIAC are training practitioners, raising awareness, and nurturing an arbitration-friendly culture across sectors,” she said, emphasising that transparent and diverse panels are vital to building trust in cross-border dispute resolution.
The session featured an in-depth panel discussion on “Selection of Arbitrators in India-Related Disputes”, moderated by Abhinav Bhushan, which focused on the need to diversify arbitrator appointments and move beyond the traditional reliance on retired judges.
Nitesh Jain, another participant, emphasised the importance of building a more diverse pool of arbitrators, including trained lawyers and professionals with international exposure.
Justice (Retd) Hemant Gupta, Chairperson, India International Arbitration Centre, and former Judge of the Supreme Court of India, observed that while retired judges are often readily available, arbitration requires a fundamentally different approach.
“To be a good arbitrator, a judge has to unlearn certain judicial habits,” he said.
He pointed out that arbitral institutions already have a strong representation of advocates on their panels, with nearly 70 per cent of arbitrators being practising lawyers, a fact that helps challenge the myth that arbitration is the preserve of retired judges.
Dr. Sanjeev Gemawat, a corporate participant, identified India’s reliance on ad hoc arbitration as a structural challenge that has reinforced the culture of appointing retired judges.
He called for greater emphasis on arbitrators with commercial and contractual expertise, adding that many industries today prefer professionals trained in English law.
Echoing these concerns, Pinky Anand, Senior Advocate and former Additional Solicitor-General of India, stressed that appointments must be made based on merit and diversity.
She observed that arbitration should evolve into a full-time professional practice rather than a “part-time business”, and encouraged greater participation from young lawyers to build the next generation of arbitration professionals.
The panel also explored international perceptions of India-related arbitrations.
–IANS
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