Development Of International Commercial Arbitration In The World’s Largest Democracy: Are We Heading Towards Making India An Arbitration Hub Or Is There Still A Long Way To Go?
Divyansh, BBA LLB & Ozasvi Amol, BA LLB, Amity University, Patna
ABSTRACT
International Commercial Arbitration helps to safeguard oneself from the aggravate of legal maze. In India, the legal system is not robust due to various irregularities in laws which has resulted in bad perception about Indian legal system in the other countries. The paper takes the best shot to address the issues which are acting as impediment in the process of making India a full- fledged hub of arbitration. The present paper addresses recent arbitration trends along with the judicial approaches which indicates that there is still long way to go. It has been 26 years ago the government of India enforced the Arbitration and Conciliation Act for the purpose to make India a hub of arbitration and the amendments were meant to highlight the prevailing issues and helped in restructuring the laws on arbitration in India. In the past few years, several government representatives have expressed their desire to ameliorate India’s position in the ease of doing business but such steps are not sufficient if the irregularities in laws are not discussed.
