Image credit: India Shipping News
The Indian Institute of Arbitration and Mediation (IIAC) signed a Memorandum of Understanding (MoU) with the Ministry of Ports, Shipping and Waterways (MoPSW) to establish the India International Maritime Dispute Resolution Centre (IIMDRC). The agreement aims to provide a specialized platform for resolving maritime disputes, positioning India as a global hub for maritime arbitration and mediation.
The IIMDRC will address legal conflicts in maritime sectors, including issues related to shipping, ports, logistics, and infrastructure. By offering an efficient, transparent, and cost-effective mechanism for dispute resolution, the centre is expected to reduce the reliance on foreign jurisdictions and promote faster resolution of disputes. The establishment of the IIMDRC aligns with the government’s broader vision under the National Maritime Vision 2030, which focuses on enhancing maritime infrastructure and governance while promoting global best practices.
The collaboration between IIAC and MoPSW underscores the growing need for specialized maritime dispute resolution services in India’s expanding maritime sector. The centre will be headquartered in Mumbai and will serve both domestic and international stakeholders. The facility will provide arbitration and mediation services, offering a crucial alternative to lengthy court proceedings and helping to resolve disputes in a timely and professional manner.
Union Minister Sarbananda Sonowal hailed the MoU as a pivotal development in India’s maritime governance, emphasizing the IIMDRC’s role in fostering a business-friendly environment for global maritime players. He noted that this initiative would further India’s efforts to become a key player in international shipping and trade while also enhancing the nation’s self-reliance in maritime legal affairs.
The IIMDRC is expected to play a vital role in shaping the future of maritime law in India, attracting global attention and ensuring swift and fair resolutions of complex maritime disputes.