India invests in arbitration industry
The arbitration industry in India is undergoing significant growth and professionalisation over the past decade. A 2011 study by Ernst & Young found that 74 percent of respondents (mainly large corporate and leading law firms) said that an arbitration clause was an essential part of their legal contracts.
The government and private institutions in India have invested significant resources in the development of the industry in order to develop an arbitration hub along the lines of Singapore. The India branch of the London Court of International Arbitration launched in April 2009, intorducing India-specific arbitration rules, and in the same year an arbitration center was opened in the High Court of Delhi, and the Chartered Institute of Arbitrators launched a center in New Delhi.
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