MCIA’s annual report reveals a transformational year for institutional arbitration in India

Data (31-page / 14.5MB PDF) from the Mumbai Centre for International Arbitration (MCIA) showed an increase of its caseload from 23 cases in 2023 to 34 in 2024, with the total value of cases reaching $257 million and an average value of $11.4m. 

International arbitration expert Mohammed Talib of Pinsent Masons said: “The release of MCIA’s 2024 Annual Report revealed a 48% increase in new cases and underscores the growing use of institutional arbitration in India”.

“MCIA’s increase in new cases shows the increasing importance of institutional arbitration as a method of dispute resolution in a country with a strong historical preference for ad hoc arbitration,” he said.

“The fact that 98% of cases stem from contracts featuring organic MCIA clauses reflects the growing credibility of institutional arbitration with Indian businesses. The efficiency demonstrated, with 91% of awards delivered within 18 months and none set aside by courts, is encouraging progress towards arbitration as a fully realised system in India able to offer effective and efficient resolution of disputes.”

Institutional arbitration is when a specialised institution administers the arbitration process, while in an ad-hoc arbitration all procedural matters are determined by the parties involved in the dispute and the tribunal.
Established in 2016, the cases handled by the MCIA in 2024 ranged from commercial issues (34%), followed by share purchases (27%), employment (14%), trade (7%), service (7%) and construction (7%) from across India and overseas jurisdictions including the British Virgin Islands, China and Germany.

International arbitration expert Scheherazade Dubash of Pinsent Masons said: “In less than ten years since its establishment, the MCIA has become a trusted choice for Indian disputing parties, not only in Mumbai but also in major metropolises like Delhi, Bengaluru, and Chennai”.

“The 2024 annual report highlights the institution's growing popularity and its commitment to aligning with international arbitration standards and best practices. This is evidenced by the latest edition of its draft arbitration rules (38-page / 435KB PDF), expected to be implemented later in the year, which propose faster timelines for law-value disputes and introduce mechanisms for multi-party and multi-contract scenarios,

Additionally, half of its Council members are from international jurisdictions,” she said. 

“Importantly, recognising the significance of diversity, the centre is making concerted efforts to appoint female arbitrators. We look forward to witnessing its continued growth and success in 2025.”

32% of arbitrators appointed by the MCIA throughout 2024 were women.

Alongside the increase in cases, the MCIA also more than doubled its council to 25 after adding 13 new members.