It is organized by the Supreme Court (SC) & Permanent Court Of Arbitration (PCA) in collaboration with the United Nations Commission on International Trade Law (UNCITRAL).

• The event marked the 75th anniversary of the establishment of the SC and the 125th anniversary of the PCA.

Arbitration

• It is a form of Alternative Dispute Resolution (others being Mediation, Councillations, Negotiations, etc.).
• In this, the dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. 
• It is characterized by neutrality, confidentiality, consensual with binding decisions. 

Existing Frameworks on Arbitration

Domestic

• Arbitration and Conciliation Act, 1996 as per UNCITRAL Model Law, applicable to all kinds of arbitrations including commercial disputes.
• New Delhi International Arbitration Centre Act, 2019, for facilitating institutional arbitration
• Indian Council of Arbitration, a society registered under the Societies Registration Act, 1860

Global

• International Court of Arbitration, established in 1923 by the International Chamber of Commerce. 
• PCA,  established by the Convention for the Pacific Settlement of International Disputes, in 1899 at Hague (India is a party).
• UNCITRAL Model Law on International Commercial Mediation and International Settlement Agreements.