EVOLUTION OF INTERNATIONAL COMMERCIAL ARBITRATION IN INDIA POST AMENDMENTS TO ARBITRATION AND CONCILIATION ACT 1996.

India is a large and a diverse country. It had opened its market in the early 1990s and has embraced the good and the bad of the globalisation process. The globalisation trends as well as the large population exert tremendous pressure on India?s resources and Institutions including the Judicial System. In this scenario the ADR mechanism especially arbitration has proved to be a success resort to dispute resolution. India has acknowledged this fact and has a specific legislation governing the arbitration regime called the Arbitration and Conciliation Act, 1996 which is based upon the UNCITRAL Model Law. India is also a signatory to the New York convention on Recognition and Enforcement of arbitral awards. Acutely conscious of the pace which India should have at international counterparts, it has amended the Arbitration and Conciliation Act, 2015. The amendments were much needed as India was at a cross road, pushing forward a permissive party autonomy regime where courts were to play a minimum interventionist role with a frame work of making, challenging and enforcing awards. Theoretically the system was workable but on a practical front it had become cumbersome. The changes brought by the new legislation are heartening and intents to make India a desired destination for International Commercial Arbitration. The Article will cover the major pro-arbitration changes brought in by the new amended legislation and a critical review of the gaps still left. The article would also try to analyse what efforts are yet to be undertaken to reach to the desired platform which is the shift from Ad-hocism towards Institutionalisation.