India Continues Sweeping Commercial Law Reform
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- With the 2015 amendment to its arbitration law, India set in motion a systematic overhaul of its commercial laws.
- India has recently amended its specific relief law to make specific performance the default remedy for contractual and other disputes displacing the traditional common law rule of first having to prove that monetary damages would be inadequate.
- This, coupled with further amendments proposed to the arbitration law and a continuation of the pro-arbitration attitude of the Indian courts, are all steps towards the creation of a more business-friendly legal environment.