India’s first Commercial Arbitration Center to open in Mumbai

The center is being set up with the intention of helping India become the new hub for international commercial arbitration while also improving the prospects of doing business in the country.

The plan is to see the MCIA become an alternative stomping ground that Indian businesses can approach instead of going to the Singapore International Arbitration Centre and the London Court of International Arbitration.

According to Vyapak Desai, a partner heading international litigation and dispute resolution at Nishith Desai Associates, “MCIA will provide an opportunity for Indian businesses to conduct arbitration in India as per global standards of administering arbitration as an option to foreign seats. As of now, not many arbitration centers in India have been really successful.”

This is not the first arbitration center in India, as there are already a few including the Indian Council of Arbitration in Delhi, Indian Merchant Chamber in Mumbai and the Madras Chamber of Commerce & Industry in Chennai, however none have really had the reputation for settling major international disputes.

Perhaps the government’s push for an alternative dispute resolution mechanism is also aimed at de-stressing an overburdened judicial system along with improving ease of doing business in India.