Abstract
In a global market that is characterized by rapid economic expansions and extensive logistical services, the need for an amicable resolution of commercial disputes has become an absolute necessity. Due to the increasing reliance on maritime trade routes by companies for the movement of commercial traffic, the installation of the aforementioned resolution system has become a prerequisite for any nation with aspirations of becoming an economic superpower. India, being such a nation, is expected to have a pristine dispute redressal mechanism. But its Arbitration mechanism has not reflected these wishes. The implementation of the 1996 Arbitration Act and the institution of sectoral Arbitration establishments have done little for the upliftment of the downtrodden 'Maritime Arbitration' sector. This research paper attempts to analyze the provisions that can solve the loopholes in the existing legal framework by implementing an introspective and comparative study of the leading international organizations against the domestic framework, thereby furthering the prospects of the nation.
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