The New York Convention On The Recognition And Enforcement Of Foreign Arbitral Convention Analysis

1. Introduction
The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 (“Convention” or “NYC”), at its basest level, is a mutual understanding between signatory states that their legal systems will make genuine efforts at recognising and enforcing an arbitral award that is jurisdictionally linked to another signatory state. As it is first and foremost a creature of international law, this agreement obliges each signatory state to apply only the rules specified within the instrument when a foreign arbitral award is sought to be enforced in a Convention jurisdiction. Conceptually, the NYC seeks to hold arbitral awards arising from Convention jurisdictions to a global standard, while also giving signatory states sufficient sovereign authority to interpret and apply its own provisions. The NYC achieves this by wording its provisions in such a manner that they only reflect the highest threshold of obligation that each signatory state may choose to undertake.
Subsequently, the Indian government adopted the UNCITRAL Model Law in 1996 and incorporated provisions of the Convention to enact the Arbitration and Conciliation Act, 1996 (“Act”). Currently, the Act stands amended by the Amendment Act of 2015 (“2015 Amendment” or “Amendment Act”), which incorporated most of the Law Commission’s recommendations in its 246th Report on “Amendments to the Arbitration and Conciliation Act, 1996” (“Law Commission Recommendations” or “Law Commission Report”) for reshaping Indian arbitration jurisprudence. The 2015 Amendment, in the author’s opinion, is a large leap forward towards making India an arbitration-friendly