Justice Nagarathna Urges India to Reduce Reliance on Foreign Law Firms in Investment Arbitration

Justice BV Nagarathna has called on India to minimize its dependence on foreign law firms for investment arbitration cases. During a recent address, Justice Nagarathna cited India's history of using foreign firms in high-profile investment arbitration and called for developing domestic capability in this area. The judge suggested the establishment of an inter-ministerial forum to strategize and deal with large-scale investment arbitration cases. The goal is to boost India's international investment and commercial arbitration capacity, even possibly making India an international arbitration hub by creating a capable next generation of lawyers and boosting infrastructure. Foreign companies can be allowed to perform transactional and arbitration work but not litigation under new regulations. These regulations have however come under criticism and been called upon to be changed.

Source: Bar and Bench