Could India match or even exceed Singapore’s rise in the arbitration space? Saurabh Bhagotra investigates
- Reports on significance of Tomorrow Sales Agency to the arbitration landscape in India.
- India is increasingly attractive as a hub for international arbitration and could be a future challenger to Singapore and London.
In the recent case of Tomorrow Sales Agency Private Limited v SBS Holdings, Inc and Ors 2023 DHC 3830-DB, a Division Bench of the Delhi High Court ruled that those who provide third-party funding are not liable to pay adverse awards in arbitration claims. This is a landmark ruling which will support the landscape of the future of arbitration in India, and is indicative of a shift in the Indian legal system to become more conducive to arbitration and mediation. With India expected to overtake the US in the size of its economy by 2075, this will likely give India a high global standing.
Progress of arbitration in India
Arbitration is now a preferred method for resolving commercial disputes in India due to its flexibility,
