India’s construction market to emerge third largest in the world by 2025

Photo courtesy: Asian Review
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NEW DELHI–India’s construction market is expected to emerge third largest globally by 2025 and will grow by 7.1 percent each year, a panel of Arbitrators said.

The opinion of arbitrator panel came at a workshop on ‘Damages in Construction Arbitration’ hosted by the Nani Palkhivala Arbitration Centre (NPAC) here.

The event commenced with Former Chief Justice of India Justice Dipak Misra’s remark: “I have come here to learn and I will go back from here a better student.”

Professor Douglas Jones AO, a leading independent international commercial and investor-state arbitrator and Professor Janet Walker, C.Arb, a reputed international dispute resolution specialist in Canada, both the panellists discussed the issues related to damages in construction arbitration.

They said that in the backdrop of the statistics that by 2025, the construction market in India is expected to emerge as the third largest globally, multiple perspectives related to damages in international arbitration, including considerations regarding Bifurcation of Damages would also emerge.

They also highlighted the extent and role of the experts appointed to assist the tribunal and the parties and how experts can assist the tribunal (and the parties).

Professor Walker said arbitration tribunals can’t oversee if a civil order is being carried out. “They don’t have powers to enforce civic orders, because specific orders often require some sort of supervision, or oversight to ensure they are performed, and this may carry on to a period where the tribunal no longer exists, unlike judges in courts.”

Walker said effective use of arbitration experts can be remarkably helpful in controlling this delay in time and associated costs.


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