The Indian government is setting up a new arbitration centre in the country’s capital, New Delhi, under the aegis of the Supreme Court. The aim is to establish the city as a global international arbitration hub, along the lines of Singapore and London.

The new facility, which will open in August this year, is expected to provide efficient management of cases at a reasonable cost and in addition act as an overarching body to a similar arbitration body running under the Delhi High Court, according to reports in local media.  

India also has an international arbitration centre in Mumbai, started last year, which handles preliminary cases.

The amendments in the Arbitration and Conciliation Act 1996, and introduction of the Arbitration and Conciliation (Amendment) Bill last year, have reportedly made arbitration the most preferred mode of settlement of commercial disputes in India.

At present, the five most preferred seats for international commercial arbitration globally are London, Paris, Hong Kong, Singapore and Geneva.