As one of the fastest growing economies, India needs trained arbitration professionals. |Photo courtesy: Getty Images/iStockphoto
Today, the importance of arbitration as an international dispute resolution mechanism has reached new heights. Arbitration is preferred over traditional litigation systems in global commercial transactions due to its quick, effective and organizational structure. Recent high-stakes cases such as Pakistan v. Tessian Cooper Company and India v. Vodafone demonstrate the need for well-trained arbitration professionals who can navigate a wide variety of international disputes. .
Despite the growth in arbitration cases around the world, there is a significant gap between availability and demand for a skilled workforce. A 2023 survey conducted by the Paris International Chamber of Commerce (ICC) showed that more than 60% of companies handling international arbitration face hurdles in finding qualified arbitrators.
program design
Constructive Remedies is a well-designed international investment and commercial arbitration master’s degree program in line with the requirements of the arbitration fraternity. The course must be interdisciplinary and multi-jurisdictional in its approach, and the curriculum blends academic rigor with practical skills, drawing on the experience of experienced national and international arbitrators and academics. I’m sharing it. Practical knowledge is key, so we aim to help students gain practical experience, understand basic principles with real-world applications, build networks, and gain insight into the latest industry. A one-month internship should be required and recognized as credit for the program. During the course you can learn about practices and new trends.
Additionally, students should also be provided with a platform to pursue specialized courses on cross-border disputes, conflicts of law, investment law and practice, commercial arbitration, sports arbitration, space arbitration, technology-related disputes, etc. As the world changes, international arbitration is also subject to dynamic evolution and technological advancement. Therefore, super-specialization in a niche field improves career prospects and ensures that students are ready to take on the challenges ahead.
According to a report issued by the Ministry of Finance, the volume of foreign investments and cross-border transactions in India is increasing day by day. This inevitably leads to complex international investment and trade disputes. According to the report, India was involved in more than 20 international arbitration cases between 2015 and 2020. As one of the fastest growing economies, India also needs trained arbitration professionals. In many cases, a lack of qualified professionals also leads to delays and increased costs in dispute resolution.
career options
Considering the current situation, there will be numerous career opportunities for graduates of the Master’s program in International Investment and Commercial Arbitration. Law firms and companies involved in international trade and investment frequently employ arbitration experts to deal with complex disputes. Consulting firms serving the world regularly hire young graduates as advisors, consultants, or advocates. Skilled arbitration professionals are critical to government agencies and agencies dealing with international investment and trade disputes. Arbitration professionals are also essential in navigating the legal complexities of international agreements and treaties, contributing to policy development and dispute resolution.
Aligned with industry needs and focused on 21st century skills, our master’s degree programs shape tomorrow’s arbitration professionals. Therefore, it is more than just an academic qualification, it is a gateway to a successful and impactful career.
Jaya Vasudevan is Professor, Faculty of Law and Apoorvi Shrivastava is Associate Professor, Faculty of Law, Manipal Law School, Mahe, Bangalore.
Published – October 13, 2024 12:30 PM IST
