The Impact of Recent Legal Reforms on International Commercial Arbitration in India: A Case Study

Abstract

This article provides a comprehensive analysis of the impact of recent legal reforms on International Commercial Arbitration (ICA) in India, focusing on key legislative changes and their practical implications. With the Arbitration and Conciliation Act of 1996 as the foundation, significant amendments in 2015 and 2019 aimed to align India's arbitration framework with global standards. These reforms introduced time-bound arbitral proceedings, fast-track procedures, streamlined arbitrator appointments, effective interim measures, and established the Arbitration Council of India (ACI), among other changes. The article uses the case study of Vedanta Ltd. v. Shenzen Shandong Nuclear Power Construction Co. to illustrate the practical application and benefits of these reforms. This case highlights improvements in efficiency, reduced judicial intervention, and the success of fast-track arbitration. While the reforms have brought notable advancements, challenges such as judicial intervention, inconsistent judicial decisions, and inadequate arbitration infrastructure remain. Comparative analysis with global arbitration hubs like Singapore, Hong Kong, and the United Kingdom provides insights into best practices that can further enhance ICA in India. The article concludes with recommendations for legislative refinements, judicial training, promoting institutional arbitration, strengthening infrastructure, and international collaboration to establish India as a leading destination for international arbitration. Keywords: International Commercial Arbitration, Legal Reforms, Judicial Intervention, Fast- track Arbitration, Interim Measures, UNCITRAL.