Arbitration Clauses In Cross-border Transactions – Indian Perspective

Introduction

In the era of globalization, India has emerged as one of the fastest-growing economies in the world. Owing to its increased consumption and a large young workforce, India has attracted interest from several multinational corporations and consumer companies who are looking to expand their business in newer territories.

This has resulted in a significant increase in the quantum of trade transactions as well as foreign direct investments (FDI) into India. In the year 2022-23, the overall trade from and into India exceeded USD 1.1 trillion (https://tradestat.commerce.gov.in/eidb/default.asp), whereas Indian companies collectively contributed approximately USD 71 billion to the FDI inflows into India (https://www.investindia.gov.in/foreign-direct-investment).