Courts in India and Singapore have taken a pro-arbitration stance with a strict adherence to the principle of non-interference with arbitral awards. They have also taken proactive steps to ensure their speedy execution. This contributes to the two countries’ credentials as arbitration-friendly regimes.
The Indian government has taken steps in recent years to provide greater certainty for international investors, including amending the country’s arbitration laws in 2015 and 2019. Furthermore, the opening of arbitral institutions like Mumbai Centre for International Arbitration (MCIA), Delhi International Arbitration Centre (DIAC) and Nani Palkivala Arbitration Centre is a step towards promoting the Indian legal system as a viable alternative for businesses pursing arbitration connected with India.
And Singapore has long been a destination for international commercial arbitration, both as a geographically convenient location and by dint of the competent and efficient legal and political infrastructure. The Singapore International Arbitration Centre (SIAC), one of its crown jewels, was established over 20 years ago and is currently headed by a board of directors which comprises of leading arbitration experts from the United States, United Kingdom, Switzerland, Korea and India. It has seen a steady increase in its caseload in recent years, having crossed the 1000 cases mark last year.
