Punjab Newsline, Chandigarh-
The fourth day of the India International Disputes Week (IIDW) in Chandigarh featured discussions on international arbitration, cross-border trade disputes, infrastructure arbitration, and the growing role of ESG frameworks in business governance.
Delivering the keynote address at the Confederation of Indian Industry (CII), Justice Arjan Kumar Sikri, International Judge at the Singapore International Commercial Court and former Judge of the Supreme Court of India, said India must position itself as a trusted global “safe harbour” for international dispute resolution in an increasingly uncertain geopolitical and economic environment. Addressing legal professionals, industry representatives and students, Justice Sikri noted that as capital, technology and businesses increasingly move across borders, disputes are inevitable and require credible, neutral and efficient dispute resolution mechanisms to maintain investor confidence and economic stability.
Justice Sikri observed that while arbitration and mediation have traditionally served as preferred mechanisms for resolving cross-border commercial disputes due to their flexibility, confidentiality and party autonomy, modern arbitration is facing criticism globally for rising costs, delays and concerns regarding impartiality. Drawing from his experience at the Singapore International Commercial Court, he explained the growing prominence of international commercial courts that combine the flexibility of arbitration with the authority and safeguards of judicial systems. Such forums, he noted, often allow international benches, permit foreign lawyers to appear, apply laws chosen by parties and adopt structured case management systems while contributing to the development of commercial jurisprudence.
The event also featured multiple panel discussions examining emerging trends in international dispute resolution and global trade governance. A panel on cross-border trade and investment disputes examined the evolving global trade order and the complexities arising from investor–state arbitration. Dr. James Nedumpara, Head of the Centre for Trade and Investment Law (CTIL), Government of India, highlighted the increasing shift from multilateral trade frameworks to bilateral and regional agreements, noting that such arrangements often allow countries to reach outcomes more efficiently while also incorporating broader considerations such as sustainability, labour standards and environmental commitments. Pranav Narang, Associate at CTIL, spoke about the challenges of liberalising professional services under trade agreements, particularly in sectors such as legal services where regulatory barriers remain significant.
Joshua Phang, Director (Disputes) at TSMP Law Corporation, Singapore, explained the distinction between commercial arbitration and investor–state arbitration under bilateral investment treaties, noting that such disputes involve complex questions of public international law and sovereign participation. Dr. Nedumpara also traced the evolution of India’s bilateral investment treaty framework, observing that the 2015 Model BIT reflected India’s attempt to balance investor protection with the state’s regulatory autonomy following disputes relating to retrospective taxation. Krati Singh, Executive Partner at Lakshmikumaran & Sridharan, discussed how governments respond to tariffs and trade disruptions through mechanisms such as WTO dispute settlement, retaliatory measures and diversification of export markets through trade agreements. Hari Veluri, Director at Providence Law Asia, Singapore, observed that bilateral and regional agreements are increasingly shaping the global trade architecture while strategic considerations such as supply chains, sustainability and national security are becoming central to modern trade policy.
Another panel discussion focused on disputes in infrastructure, construction and energy projects, highlighting the practical challenges involved in resolving high-value commercial disputes. Moderated by V.R. Neelakantan, Partner at Shardul Amarchand Mangaldas & Co., Gagan Anand, Managing Partner at Legacy Law Offices LLP, noted that while arbitration was intended to reduce the burden on courts, disputes in infrastructure projects often continue to involve judicial intervention at various stages. Sarthak Gupta, Advocate at the Punjab & Haryana High Court, highlighted concerns relating to accountability of arbitrators and the rising cost of arbitral proceedings, referring to recent policy discussions discouraging arbitration in certain high-value government contracts. Responding to these concerns, Gagan Anand emphasised that arbitration remains essential for resolving complex infrastructure disputes involving technical evidence and specialised expertise. Amit Bansal, Partner at Deloitte India, stressed the importance of institutional arbitration and predictable enforcement mechanisms to improve investor confidence. Janmali Manikala, Partner at Trilegal, discussed dispute resolution in the power sector, noting the role of regulatory commissions alongside arbitration in addressing contractual disputes. Apurv Tyagi, Chief Manager (Law) at Powergrid, highlighted the practical challenges faced by public sector entities, particularly in projects affected by insolvency proceedings.
The conference also examined the increasing role of environmental, social and governance considerations in corporate governance and business regulation. In a panel on ESG and sustainability moderated by Komal Karnik, Senior Associate at Shardul Amarchand Mangaldas & Co., Dr. Tarini Mehta, Managing Trustee at the M.C. Mehta Centre for Education & Research, emphasised that ESG should be understood not merely as a compliance requirement but as a critical risk-management framework in the face of global environmental crises such as climate change, pollution and biodiversity loss. Gyanendra Niraj, Deputy General Manager at the Securities and Exchange Board of India (SEBI), highlighted regulatory initiatives such as Business Responsibility and Sustainability Reporting (BRSR) aimed at improving ESG disclosures among listed companies. Dr. Manuj Bhardwaj, Founding Faculty Member at the Dhirubhai Ambani University School of Law, observed that ESG is increasingly becoming a business enabler driven by investor expectations, consumer awareness and evolving global sustainability standards. Mahir Sood, Founding Managing Partner at AMS Genesis Legal, noted that ESG considerations are increasingly intersecting with corporate governance frameworks, environmental regulation and commercial disputes.