In a historic event held at Bharat Mandapam, New Delhi, the Arbitration Bar of India (ABI) was officially inaugurated on Saturday. The ceremony witnessed the esteemed presence of distinguished figures including External Affairs Minister Dr. S. Jaishankar and Minister of Railways, Communications, Electronics, and Information Technology, Ashwini Vaishnaw.
The establishment of ABI marks a significant milestone in India’s arbitration landscape, reflecting the nation’s commitment to advancing dispute resolution practices.
Diversity and Dedication
ABI President Gourab Banerji articulated the profound significance of ABI’s inception, emphasizing the organization’s dedication to promoting diversity and equal opportunities within the field of arbitration. Banerji highlighted ABI’s inclusive approach, featuring a diverse executive committee and a dedicated women’s chapter aimed at fostering gender equality in arbitration.
A Vision for Excellence
Banerji elucidated ABI’s multifaceted goals, ranging from promoting excellence, professionalism, and ethics in arbitration to expanding the pool of competent arbitrators. ABI aims to establish a robust network for sharing insights and setting industry standards, thereby enhancing the quality and accessibility of arbitration services both nationally and internationally.
Empowering the Next Generation
Recognizing the pivotal role of young arbitrators in shaping the future of arbitration, ABI is committed to nurturing talent and providing guidance to aspiring professionals. Banerji underscored ABI’s role in influencing policy reforms to streamline arbitration processes and make them more cost-effective.
Nationwide Reach and Impact
Contrary to being confined to Delhi, ABI boasts a pan-India scope, with advisors hailing from prominent cities such as Mumbai, Chennai, Bengaluru, and Kolkata. ABI’s diverse executive committee reflects geographical and gender diversity, signaling its intent to extend its reach to underserved regions and communities across India.
Transforming Traditions
Banerji reflected on the evolution of arbitration from a leisurely part-time activity to a dynamic and sought-after career path for young lawyers. He expressed optimism about ABI’s potential to catalyze further advancements in arbitration practices and contribute to India’s economic growth and global business reputation.
Legislative Support and Judicial Evolution
Acknowledging the pivotal role of legislative and judicial reforms in fostering a conducive arbitration environment, Banerji commended the Government of India’s proactive approach in amending the Arbitration and Conciliation Act. He highlighted the judiciary’s paradigm shift towards favoring arbitration, evidenced by landmark judgments and infrastructural developments such as the India International Arbitration Centre (IIAC).
Championing Human Capital
Banerji emphasized the paramount importance of human capital in driving arbitration excellence. ABI pledges to support and mentor young arbitrators, harnessing their talent to propel India’s arbitration landscape onto the global stage.
Gratitude and Commitment
In concluding remarks, Banerji expressed gratitude to Attorney General R Venkataramani, Solicitor General Tushar Mehta, and Honorary President Justice Hemant Gupta for their unwavering support and commitment to ABI’s vision.
Conclusion
The inauguration of ABI heralds a new era of innovation and inclusivity in India’s arbitration domain, underscoring the nation’s resolve to emerge as a global leader in dispute resolution. With a steadfast commitment to excellence and equality, ABI is poised to shape the future of arbitration and empower generations of practitioners to come.
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