  Compact binary mergers are the strongest candidates for the progenitors of
Short Gamma Ray Bursts (SGRBs). If a gravitational wave (GW) signal from the
compact binary merger is observed in association with a SGRB, such a synergy
can help us understand many interesting aspects of these bursts. We examine the
accuracies with which a world wide network of gravitational wave
interferometers would measure the inclination angle (the angle between the
angular momentum axis of the binary and the observer's line of sight) of the
binary. We compare the projected accuracies of GW detectors to measure the
inclination angle of double neutron star (DNS) and neutron star-black hole
(NS-BH) binaries for different astrophysical scenarios. We find that a 5
detector network can measure the inclination angle to an accuracy of $\sim 5.1
(2.2)$ degrees for a DNS(NS-BH) system at 200 Mpc if the direction of the
source as well as the redshift is known electromagnetically. We argue as to how
an accurate estimation of the inclination angle of the binary can prove to be
crucial in understanding off-axis GRBs, the dynamics and the energetics of
their jets, and help the searches for (possible) orphan afterglows of the
SGRBs.
