One of the most important factors that aid the development of the economy of

India is globalisation. This essentially requires it to transact with other states on

various subject matters and on many levels. Due to the existence of different
commercial and legal expectations, cultural approaches, political ramifications
and geographic situations; disputes become inevitable in such cases. As the
number of international disputes mushrooms, so too does the use of effective
and efficient mechanisms to resolve them. The complete process of dispute
resolution is more of an art rather than a science.
Looking at a bigger picture a countrys position in the international level affects
its growth and the economy. The process of development will be hindered if
international factors are not taken into consideration. For example, India cannot
reduce the percentage of people below poverty level without working on its
economy. Everything is dependent on one or the other factor on an international
scale.