The southern hub of Hyderabad is all set to become the latest Indian city to house an international arbitration and mediation centre, according to media reports.
India already has more than 30 arbitral institutions including the Delhi International Arbitration Centre (DIAC), the Mumbai Centre for International Arbitration (MCIA) and the Gujarat Mediation and Arbitration Centre (GMAC).
According to the Times of India, Chief Justice of India NV Ramana has already completed the formalities for the establishment of the Hyderabad centre. He told the New Indian Express that compared to other international arbitration centres globally, dispute resolution costs less in India, and is of immense help to domestic investors as well.
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