Commercial arbitration in India and recent developments
The loss of faith in judicial system due to its inability to render the promised justice in time, people look for alternative mechanism of dispute resolution. Pending cases in various courts is a hurdle in ease of doing business in India leading to high impact on Indian economy. Arbitration is one such mechanism which can resolve the problems arising due to fast changing globalisation. And the recent trends among companies as not to drag disputes into courtrooms is one of the important reasons for growth of alternative dispute resolution such as arbitration and conciliation.