View of Arun Jaitely shared at BRICS Arbitration meet
It is extremely important that the BRICS nations develop an arbitration mechanism among themselves at a time when certain centres in the world have monopolised the bulk of the cases. In order to develop this mechanism, it is necessary that we have arbitrators of the required capability and lawyers with a great international ability.
Need for Arbitration Centres
1. Lack of adequate representation of the developing nations in the arbitration process
2. The need to quickly dispose off frivolous cases
3. The need to take into account the exigencies of populous nations.