Stating that all prudent people will leave aside egos and embrace practicality if a quick and effective dispute resolution platform is provided, Chief of India NV Ramana announced Indias firstInternational Arbitration and Mediation Centre(IAMC) would be inaugurated in Hyderabad on December 18.
It would become functional from a highrise building in Nanakramguda. A curtain-raiser event was organised at HICC. Chief minister K Chandrasekhar Rao hoped the emergence of IAMC would make India overcome its image of lagging behind in enforcement of contracts on account of problems like lack of sufficient judges to resolve disputes quickly. He thankedCJIfor choosing Hyderabad for the facility.KCRsaid the international facility would receive full support from state, Centre and other Asian nations.