D international commercial arbitration in india 1996 as cited above international commercial arbitration is an arbitration that deals with commercial matters wherein the parties may be of a foreign nation or a resident there or an association or a company incorporated there the same parallel is followed by indian law. Given the need for an efficient dispute resolution mechanism international commercial arbitration has emerged as the preferred option for resolving international commercial disputes and preserving business relationships despite having huge potential for international trade and commerce india was slow in welcoming business outsiders and it was not until 1991 that economic reforms started to remove these restrictions this has resulted in an influx of overseas . International commercial arbitration the indian perspective as mentioned above international commercial arbitration is an arbitration that deals with commercial matters wherein the parties may be of a foreign nation or a resident there or an association or a company incorporated there the same analogy is followed by indian law when the seat of arbitration is in india but at least one of the parties is a foreign national then such matters would be dealt under the provisions of ica . Stanford libraries official online search tool for books media journals databases government documents and more