Recent Indian Developments Relating to International Arbitration

Abstract

This chapter is divided into two parts. The first part sets out the general background and provides an overview of the existing legislative framework and some prominent earlier Indian cases concerning international arbitration. The second part discusses developments on the legislative front, recent cases from the Supreme Court and certain High Courts and an overview of other developments in India pertaining to international arbitration. While the legislative proposals demonstrate a serious Parliamentary will to make India more conducive to conducting international arbitrations and for enforcing foreign awards, the recent judicial decisions have clearly demonstrated that effective drafting could greatly enhance the efficiency of international arbitrations relating to India. Decisions of Indian Courts often dramatically change the environment for international arbitration and must be closely monitored by lawyers and clients while assessing the risk of litigation in India, drafting dispute clauses, while contemplating enforcement of international awards against assets in India. Keywords:dispute clauses; enforcement; foreign awards; Indian Courts; international commercial arbitrations; legislative framework