GUJARAT INTERNATIONAL MARITIME ARBITRATION CENTRE (GIMAC)

June 26, 2021

The Gujarat Maritime University signed a MoU with the International Financial Services Centres Authority in GIFT City on June 21 to promote the Gujarat International Maritime Arbitration Centre (GIMAC).

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This will be the first centre of its kind in the country that will manage arbitration and mediation proceedings with disputes related to the maritime and shipping sector.
The GIMAC will be part of a maritime cluster that the Gujarat Maritime Board (GMB) is setting up in GIFT City at Gandhinagar.
The centre is expected to be ready by the end of August 2021.
Why is such a centre needed? There are over 35 arbitration centres in India. However, none of them exclusively deals with the maritime sector.

Source : Indian Express