New Delhi, July 13 -- India is uniquely positioned to emerge as the next global seat for arbitration, Supreme Court judge justice Surya Kant has said, citing rising costs and procedural delays in traditional arbitration centres such as London and Singapore. Speaking in Sweden earlier this week, justice Kant noted that the global arbitration landscape is "in search of new anchors", and that India, through key legal reforms, judicial support and institutional evolution, stands out as a credible and cost-efficient contender. "Often, when discussing the architecture of international arbitration, I have noticed that institutions situated in established hubs, such as London and Singapore, have become almost synonymous with the practice itself," said justice Kant. "The median duration of proceedings before the London Court of International Arbitration (LCIA) is approximately 20 months, with the average cost to parties exceeding USD 100,000. tribunal fees constituted the majority of these expenses." In contrast, India presents a strong case for itself, not out of sentiment but through "substantive developments", the judge said. "India is uniquely positioned to emerge as a serious contender among the next generation of preferred arbitral seats," he emphasised. Justice Kant detailed the legislative strides India has taken to make arbitration more efficient and user-friendly. Over time, Indian arbitration law has moved towards global best practices, aided by landmark amendments to the Arbitration and Conciliation Act, 1996. India is also witnessing a rise in arbitral institutions, justice Kant said. Citing a report by a high-level committee on arbitration, the judge said there are over 35 arbitral institutions currently operating within the jurisdiction....