Singapore | Disputes director Mahesh Rai discusses the representation of Indian arbitrators in the international market and India as an international arbitration hub in Bar and Bench interview

In an interview with Indian legal publication Bar and Bench, dispute resolution director Mahesh Rai discussed the underrepresentation of Indian arbitrators in the market, despite the rise of skilled practitioners. He advocates for adopting international best practices and building a community of arbitration specialists in India to create a more diverse pool of arbitrators.

Mahesh sees India’s potential to become a major player in international arbitration but stresses the need for consolidation in the domestic market. While institutions like the Mumbai Centre for International Arbitration (MCIA) and the Delhi International Arbitration Centre (DIAC) are gaining recognition, there is no single leading institution representing the country.

He also highlights the increasing popularity of the Singapore International Commercial Court (SICC) due to its expedited and cost-effective proceedings and predicts more businesses will adopt SICC jurisdiction clauses.

Mahesh supports the Arbitration and Conciliation (Amendment) Bill, 2024, particularly its provisions for emergency arbitration and restrictions on court intervention for interim measures, which align India with international best practices and boost investor confidence.

Mahesh praises the collaboration between foreign and Indian lawyers, particularly with Singaporean firms, and believes the entry of foreign firms into India will bring best practices and innovation to the legal market.

He also commends Indian lawyers for their creativity and problem-solving skills, noting that they now compete globally. Finally, he highlights key trends in Asian arbitration, including a focus on efficiency, increased flexibility in choosing arbitration seats, and a diverse pool of practitioners, all contributing to the field’s growth.

You may read the full interview here.