Q. What were your key takeaways from the ET LegalWorld Commercial Dispute Conclave 2026?
The conclave provided an opportunity to bring together different perspectives from the legal and business ecosystem, including General Counsels, litigators and senior advocates.
Commercial disputes are experienced differently by different stakeholders. An in-house General Counsel may identify a business or operational concern that a litigating lawyer may not necessarily see, while an investor or business operator may approach an investment dispute differently from legal counsel.
Bringing these perspectives together is important because hearing the problems from different corners can help identify solutions that may otherwise remain overlooked.
Q. What are some of the key gaps you see in India's commercial justice system?
India's commercial justice system continues to have several gaps and pain points. This makes cross-sector dialogue particularly important.
The legal system needs to evolve in a manner that responds more effectively to the requirements of businesses, investors and other commercial stakeholders. The objective should be to create a system that is more efficient, predictable and responsive to commercial realities.
Different stakeholders experience the system differently, and those experiences need to inform the development of future dispute-resolution mechanisms.
Q. What did the discussions around investment treaty arbitration highlight for you?
One important observation was that the number of investment treaty disputes remains relatively limited.
One possible reason is the relationship between the investor and the counterparty. Investors may hesitate to initiate arbitration if they believe that doing so could adversely affect an existing commercial relationship.
Businesses do not necessarily want to damage relationships with their counterparts merely because a dispute has arisen. This makes the availability of an effective and credible exit mechanism particularly important.
Q. How can India make its dispute-resolution framework more investor-friendly?
India is seeking to attract foreign investment, while Indian companies are also increasingly investing overseas. In that environment, investors need confidence that there is a credible mechanism available when a serious dispute arises.
An internationally trusted tribunal or forum for investor disputes could provide greater comfort to investors.
If such a mechanism becomes a meaningful part of the investor-dispute framework, investors from different jurisdictions may have greater confidence when considering investments in countries such as India.
Q. How are geopolitical developments likely to affect commercial disputes and contracts?
Geopolitical uncertainty is likely to influence the way commercial contracts are drafted.
The COVID-19 pandemic provides an example of how external developments can change contractual drafting. Following the pandemic, force majeure provisions increasingly had to account for pandemic-related disruptions.
A similar evolution could occur in response to geopolitical developments. For instance, disruptions relating to important trade and shipping routes, including the Strait of Hormuz, could lead parties to consider such risks while drafting contractual provisions.
We could therefore see more detailed boilerplate clauses addressing specific geopolitical risks.
Q. What role do you see for mediation in the future of commercial dispute resolution?
Mediation will form an important part of the future of commercial dispute resolution, particularly where parties want to preserve their business relationships.
The objective should increasingly be to resolve disputes quickly and with minimum unnecessary confrontation.
Where parties have an ongoing commercial relationship, mediation can provide a mechanism through which the dispute can be addressed without necessarily destroying the underlying relationship.
The future of dispute resolution is therefore likely to involve greater use of mediation, faster resolution and a greater willingness to resolve disputes outside traditional court proceedings.
Q. Where does Online Dispute Resolution (ODR) fit into this future?
ODR is certainly going to be an important part of the future dispute-resolution landscape.
Technology can create additional avenues for parties to resolve disputes efficiently, particularly in areas where speed, accessibility and cost are important considerations.
However, stakeholders also need to be sensitised to the potential of ODR. Greater awareness and understanding of how these mechanisms can be used will be important for their wider adoption.
Q. What, ultimately, should India's future commercial justice ecosystem look like?
The future should be centred around faster, more efficient and commercially responsive dispute resolution.
There needs to be greater emphasis on mechanisms that allow parties to resolve disputes quickly, preserve relationships where possible and avoid unnecessary litigation.
Mediation and ODR are likely to form important parts of this evolving framework, alongside arbitration and the courts.
The gap between the dispute-resolution system that exists today and the framework that India will require as its economy and cross-border commercial activity grow creates an opportunity for legal professionals, businesses, institutions and policymakers to work together on more effective solutions.
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