India as a hub for international commercial arbitration

The amendment to the Arbitration and Conciliation Act, 1996 brings much required changes and was intended at transforming the arbitration system in India. Some major changes will have a noteworthy effect on the way of arbitrations which are conducted in India and will also bring a positive signal for India's reputation as a hub for International Commercial Arbitration (ICA). Even after major alteration the certain areas of Indian arbitration are still doubtful and need explanation. Singapore and the United Kingdom have well developed arbitration laws and procedures. They have become the most preferred place for arbitration proceedings. This paper makes a comparative study of the arbitration practices in three countries United Kingdom, India and Singapore. This paper examines the steps that are taken by the Indian Government in making India as the most preferred place for arbitration.