Many commercial disputes gets entangled in the complex judicial procedures which ultimately results in loss of man-days and hamper the ease of doing business. In order to resolve this long standing issue the Prime Minister (PM) modi who is the head of executive and the Chief justice of India (CJI) TS Thakur have come together and appealed in unison to promote arbitration and resolve commercial disputes through professionally trained arbitrators, who could decide in a time-bound and cost-effective manner.
Modi strongly encouraged a fully functional arbitration mechanism which he maintains is integral to ease of doing business while Justice Thakur cited the already existing humongous number of cases to push for this method of resolving commercial disputes. They were addressing a global conference on ‘National Initiative Towards Strengthening Arbitration and Enforcement in India’, organised by NITI Aayog. The three-day conference was attended by chief justices and judges of foreign courts, apart from various Supreme Court judges, including Justices Anil R Dave, J S Khehar, A K Sikri, S A Bobde and Uday U Lalit.