IIAC signs MoU with MoPSW for establishment of India International Maritime Dispute Resolution Centre
GOA : India International Arbitration Centre (IIAC) signed a MoU with the Ministry of Ports, Shipping and Waterways (India), Government of India for establishment of India International Maritime Dispute Resolution Centre (IIMDRC) as a branch of IIAC at Mumbai.
In a significant stride towards promoting India as a prime destination for effective and quality maritime dispute resolution through alternate dispute resolution methods including arbitration and mediation, India International Arbitration Centre (IIAC) proudly announces that it has entered into a Memorandum of Understanding (MOU) with Ministry of Ports , Shipping and Waterways (India) , Government of India (MoPSW) for establishment of India International Maritime Dispute Resolution Centre (IIMDRC) as a branch of IIAC at Mumbai.
IIMDRC as a branch of IIAC will be established as a specialized maritime dispute resolution centre as per provisions of the India International Arbitration Centre Act, 2019 which in turn will contribute in the development of India becoming a hub for maritime arbitration including the disputes/arbitrations emerging from ports, shipping, waterways, logistics, transport and all associated sectors.
In his message, Hon’ble Justice Hemant Gupta (Retd.) FCIArb, Former Judge, Supreme Court of India and Chairperson, IIAC has conveyed that “This is a monumental step in strengthening India’s dispute resolution infrastructure in the maritime sector.”
The signing ceremony for the MoU took place during the 20th Maritime State Development Council (MSDC) Meeting in Goa from 12-13 September 2024 in the presence of Shri Sarbananda Sonowal, Hon’ble Union Minister of Ports, Shipping and Waterways, Dr. Pramod Sawant, Hon’ble Chief Minister of Goa, Shri Shantanu Thakur, Hon’ble Minister of State for Ports, Shipping and Waterways, Senior Ministers from Coastal States, and Administrators of Union Territories (UTs).
Key industry leaders, legal dignitaries and Shri Anant Vijay Palli, Senior Advocate, Supreme Court of India and Part-time Member, IIAC were also present at the ceremony. MoU was signed by Mr. Vinay Kumar Sanduja, Registrar, IIAC and Mr. Bhushan Kumar, Joint Secretary (Sagarmala), MoPSW.