A New Epoch: Charting India’s Path to Global Arbitration Prominence

Abstract

The practice of arbitration, in India, traces its origins back to ancient legal systems like the Mitakshara School of Law and further evolved under British colonial enactments, notably the inception of the India Arbitration Act of 1899. This historical continuum has been punctuated by significant developments marked by amendments in 1996, 2015, 2019 and 2021, indicative of India’s unwavering commitment to cultivating a robust arbitration culture. Strengthened by this historical foundation and fortified by British legal influences, India, the world’s fifth-largest economy, harbors the aspiration to firmly establish itself as a global arbitration hub. The development has been gradual and ongoing with various initiatives, reforms and pivotal judicial decisions being implemented. This paper critically scrutinizes India’s potential within the evolving legal landscape, examining its legislative foundation and contemporary ambitions in the global arbitration arena.