By: Sagnik Sengupta
International Commercial Arbitration (ICA), recognized as the most widely utilized dispute resolution system for transnational disputes, holds paramount importance as a facilitator of seamless business operations and catalyst for attracting new investments to respective nations. However, despite the enactment of a national arbitration statute, India’s progress in this area remained stagnant for nearly two decades, sometimes even regressing. In the past-decade, the Indian government and arbitration institutions have shown renewed dedication to ICA’s potential, launching various initiatives to foster a business-friendly environment and improve their services. Despite these efforts, India still has grounds to cover in order to match the success achieved by other leading jurisdictions worldwide, with Singapore standing out as a prime example. On a similar note, Japan, one of the largest global economies, has recently recognized the importance of ICA and has started implementing intriguing initiatives to become an appealing destination. Against this backdrop, this Article undertakes a comprehensive examination of the legislative and regulatory aspects pertaining to ICA in India, Singapore, and Japan. By conducting a comparative analysis, drawing insights from the experiences of Singapore and Japan, and analyzing recent trends in the two regimes, this paper seeks to shade light on the strengths and weaknesses of each regime in relation to critical aspects of ICA, aims to propose potential solutions for India, addressing the current obstacles hindering its progress in this field, and endeavors to provide valuable recommendations to enable India to maximize its potential as a preferred destination.