Resolving Disputes Through Arbitration In India: Issues & Challenges In International Commercial Arbitration

Abstract

Arbitration, as a form of Alternative Dispute Resolution (ADR), has witnessed a surge in popularity within India in recent years, particularly as trade barriers have been removed and the country's commerce has opened up. International Commercial Arbitration, in particular, has gained significant importance. In comparison to traditional litigation, arbitration is widely regarded as the preferred method for resolving disputes due to its numerous advantages and benefits for the parties involved. While there are certain drawbacks, the accessibility of arbitration and its ability to deliver timely justice are contributing to its growing appeal in the foreseeable future.

In the realm of the financial industry, arbitration has become notably widespread. The establishment of guidelines and standards has been instrumental in promoting the use of arbitration within this sector. This study delves into the landscape of international commercial arbitration in India and modestly attempts to identify the challenges faced by the parties involved.