India Poised to Lead Global Arbitration: Chief Justice D Y Chandrachud

Chief Justice of India D Y Chandrachud highlights the nation's push to become a leader in international arbitration, advocating for a robust legal framework that supports efficient dispute resolution. Speaking at a conference, he cites the importance of the rule of law in promoting economic growth and attracting foreign investment.

Chief Justice of India D Y Chandrachud on Friday emphasized the need for India to take a leading role in international arbitration, offering a level playing field for dispute resolutions beyond domestic courts.

At a conference on international arbitration and the rule of law, he stressed that respect for the rule of law fosters fairness, stability, and predictability—factors which are crucial for economic growth. Chandrachud stated that investors thrive in an environment where rights are protected, contracts are enforced, and disputes are resolved efficiently.

He noted that a strong rule of law framework encourages foreign investments, boosts trade, and enhances a nation's global competitiveness. Additionally, reforms in the Arbitration and Conciliation Act of 1996 are underway to further support the growth of arbitration in India. Justice Chandrachud expressed optimism about India's economic future, citing growth projections from the International Monetary Fund and the World Bank.

(With inputs from agencies.)