A new brand of justice

The London Court of International Arbitration’s subsidiary in India is up and running. India Business Law Journal asks how it differs from its parent in the UK and its rivals in Asia

By Vandana Chatlani

With antecedents that date back to 1892, and with 80% of its current clientele drawn from outside the UK, the London Court of International Arbitration (LCIA) is undoubtedly a heavyweight in the world of dispute resolution. But as the focus of international trade shifts eastwards, and with growing competition from Asian centres such as Singapore and Hong Kong, it cannot afford to be complacent.

So, in 2008 the LCIA established a joint venture in Dubai, and then in 2009 it set up shop on its own in India. On 17 April this year its India-specific rules – the LCIA India Rules – came into force, and soon after that the forum received its first case.

Why India?

Saddled with a backlog of around 31 million court cases, India is slowly warming to the idea of alternative dispute resolution, and arbitration in particular, which, with its relative speed and confidentiality, provides a credible alternative to litigation in many situations.