The way the indian economy is progressing, there is a large scale liberalisation going on. And simultaneously, it is getting integrated with the global economy. Today, the scenario is such that that the business has taken over the politics. A lot of Multinational Companies (MNCs) are looking forward to invest in India or are wanting to have their business process outsourced to India. But yet the MNCs are apprehensive to invest…and why is that so…???

They are reluctant because of the slow abd slacky judicial machinery in India. They cannot affort to wait for long periods for resolution of the commercial disputes. To improve the given situation, the Indian Council of Arbitration has come up with some judicial reforms. The emergence of Prevention of Disputes and its Resolution has been one of the most significant movements as a part of conflict management. As a result, settlement of disputes through alternative mode is an integral segment of modern practice in India now.

Multinational Companies though have opened their doors for transfer of their resources and technology to India but certainly they are afraid from entering in to commercial transaction with our country only on account of delay of involvement of settlement of disputes. In the given context, the settlement of disputes through the process of arbitration would encourage more international trade.

To sum up, it is nice and encouraging to see that in order to cope up with the changing scenario, India has updated its arbitration legislation so as to provide a level playing feild for domestic and foreign entrepreneurs.

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