An Analysis of Role of International Business Law in Shaping Local Business Law

Today’s global marketplace offers a plethora of opportunities but can also introduce significant challenges and risks. Our international business attorneys can help clients in identifying and managing these risks. Although the primary law governing an international business transaction will be the international business agreement between the parties, certain treaties such as the UN Convention on Contracts for the International Sale of Goods can impact international business transactions. The study tried to examine the inter-relationship between International and national business law and ways to improve local laws. The researcher will primarily adopt a doctrinal method of research. State practice and international law are constantly evolving. International law's much-vaunted values and norms are, in turn, negotiated by state practice based on perceived national interests. Indian practice shows that the relationship between international law and domestic law is complex and vague. India has different positions in adopting international law; sometimes it is willing to adopt international law, sometimes it is not. India remains reluctant to draft treaties that restrict free rein and that seek expressly to accord domestic courts a judicial enforcement role. Indian courts cite international law when there is no inconsistency between them and there is a void in domestic law. However, better implementation can be attained.