INTERNATIONAL COMMERCIAL ARBITRATION
Growing international trade and investment is tagged along by growth in cross-border commercial disputes. Provided with the need for an effective dispute resolution mechanism, international arbitration has become evident as the better option for settling cross-border commercial disputes and preserving business relationships. With an inflow of foreign investments, overseas commercial transactions, and open-ended economic policies acting as a catalyst, international commercial disputes entailing India are constantly rising. This has drawn colossal focus from the international community on India’s international arbitration regime.
Due to inevitable controversial decisions by the Indian judiciary in the last years, especially in cases involving a foreign party, the international community has been vigilant on the development of arbitration laws in India. The Indian judiciary has often been denounced for its interference in international arbitrations and extra territorial application of domestic laws to foreign-seated arbitrations.