Globalization has been mostly viewed from an economic perspective. However, the impact of globalization on judicial administration has not been considered with the same vigor. Globalization has no doubt contributed in the economic development of countries at the same time economic exchanges at the global level have also contributed towards globalization of dispute resolution system, which has been used by private as well as state parties. Since its establishment in 1995, WTO and its dispute settlement body have been considered synonymous with globalization, which has had a significant impact on the judicial and administrative system of a country.
Private parties, in general, use arbitration for resolving their disputes related to international trade and commerce. In this regard UNCITRAL Model Law on Inter- national Commercial Arbitration (Model Law), UNCITRAL Arbitration Rules (UNCITRALArbitration Rules), and the Convention on Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention) set the international standards, which are followed by the domestic courts. In a dispute between an investor against a state, International Center for Settlement of Investment Disputes (ICSID) Convention together with relevant Bilateral Investment Treaty (BIT) is regarded as the internationally accepted standards. These international rules, law, and standards have created a significant impact on the administration of justice through courts or arbitra- tion tribunals at the domestic level.
This paper will demonstrate how these rules and standards have affected, in a positive way, judicial and arbitration system including changes in relevant laws and practices in India. In conclusion this paper recounts the progress made in dispute reso- lution system so far in the Indian context and also suggests the necessary future developments required in this area.