Gujarat International Maritime Arbitration Centre (GIMAC)

Gujarat International Maritime Arbitration Centre (GIMAC)

Gujarat International Maritime Arbitration Centre (GIMAC)


Recently, a Memorandum of Understanding (MoU) was signed between the Gujarat Maritime University and International Financial Services Centre Authority in GIFT (Gujarat International Finance Tec-City) City.

The objective of the MoU is to jointly support the establishment of the Gujarat International Maritime Arbitration Centre (GIMAC).



  • 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.


  • India’s Focus on Arbitration: Recently, the Arbitration and Conciliation (Amendment) Act, 2021 was notified, considered as the landmark step towards making India as the hub of International Commercial Arbitration.
  • Arbitration is a kind of dispute resolution method where the disputes arising between the parties are resolved by the arbitrators appointed by them instead of state’s legal bodies.
  • There are over35 arbitral institutions in India, however, none focus exclusively on the disputes related to the maritime sector.
  • With the state continuing to witness a rapid extension in maritime activities and inching closer to becoming a global maritime hub with the implementation of Gujarat Maritime Cluster project, a strong growing and recurring demand is being generated for a specialized facility for maritime arbitration services.
  • The idea is to create a world-class arbitration centre focused on maritime and shipping disputes that can help resolve commercial and financial conflicts between entities having operations in India.
  • The arbitration involving Indian players is now heard at the Singapore Arbitration Centre.
  • Globally, London is the preferred centre for arbitration for the maritime and shipping sector.


  • Facilitate faster dispute resolution.
  • Enhance the attractiveness of GIFT SEZ(SEZ) among the International Maritime Community.
  • Increase the ease of doing business.
  • Reduce burden on courts.

Gujarat Maritime Cluster:

  • It is conceived as a dedicated ecosystem of Ports, Maritime Shipping and Logistics services providers.
  • It will host an array of maritime, shipping industry players and service providers, along with relevant Government regulatory agencies, in GIFT City, Gandhinagar – India’s first International Financial Services Centre (IFSC).
  • The International Financial Services Centers Authority (IFSCA)is a unified authority for the development and regulation of financial products, financial services and financial institutions in the IFSC in India.
  • It will be a one stop solution for all maritime services while attaining economic growth, employment generation and industry – academia confluence in the region.

    Download Yojna IAS Daily Current Affairs of 29th June 2021

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