Hyderabad would reposition itself as global leader: Revanth Reddy
To facilitate this, there was a need for world class ecosystem and effective dispute resolution mechanism. Judiciary was the cornerstone of our democracy but there was a big issue before the judiciary of huge backlog cases, he said.
Hyderabad: Chief Minister A Revanth Reddy said after attaining global recognition of being power hub for software, pharma, life sciences and biotechnology sectors, Hyderabad would reposition itself as a global leader in future technologies with new initiatives like Future City and AI City.
To facilitate this, there was a need for world class ecosystem and effective dispute resolution mechanism. Judiciary was the cornerstone of our democracy but there was a big issue before the judiciary of huge backlog cases, he said.
Addressing at the Med-Arb Conference here on Friday, the Chief Minister stressed that India needed an alternate dispute resolution mechanisms to help reduce cases pendency and ensure justice, which was fast and efficient.
Hyderabad was proud to be on global arbitration map, next to Singapore and London. If mediation and arbitration were combined for quick dispute resolution, business would no longer witness disputes as a bottleneck for making investments quickly, he said, adding IAMC can help not only Hyderabad and Telangana but entire India.
“Good practices of mediation and arbitration should not only be available to global investors, big corporations and governments but also to poor people, especially the weakest sections,” Revanth Reddy said.
