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12 NLS Bus. L. Rev. [1] (2026)

handle is hein.journals/nlsblr12 and id is 1 raw text is: Peer-reviewed and edited - Pending pagination and layout DOI: 10.55496/EINJ3069 INDIA AND THE CISG - A CASE FOR RATIFICATION - Ranak Baneriil & Rida Rahman2 The United Nations Convention on Contracts for the International Sale of Goods ('CISG or Convention') was opened for signatures in 1980. More thanforty years later, it has been one of the most successful international instruments that has attempted to unify international commercial law. The Hong Kong Special Administrative Region ('HK SAR ') and the Kingdom of Saudi Arabia recently ratified the CISG. This development brings into question the non- signatory status of another trading giant, India. The ratification of the CISG is as much a commercial question as it is a legal one. It can provide extensive benefits along with legal conundrums. This paper looks to provide a holistic argument for India to ratify the CISG. It considers legal, commercial, and policy factors. The logistics of legislation and related lobbying are not considered in this paper, which solely tries to lay out the substantive basis for India to ratify the CISG. It weighs the pros and cons of ratification to conclude that the obstacles presented are resolvable or that the benefits outweigh the negatives. To achieve this, the paper compares the current legal regime governing international sales in India with the system offered by the CISG. Furthermore, the paper considers and deals with potential arguments by opponents of such a ratification. TABLE OF CONTENTS I. Introduction.......................................................................................................................2 II. Effects on trade .................................................................................................................5 A. General Trade Statistics..............................................................................................5 B. Relevant CISG Statistics .............................................................................................7 III. Incentives to Ratify the CISG ...........................................................................................8 A. Potential Impact on GDP and Growth Rates ............................................................8 B. Impact on Indian Businesses Engaging in Cross-Boundary Transactions...........10 C. Improvement in the Resolution of CISG Disputes within India ...........................11 D. Reducing Ambiguities and Increasing Access.........................................................12 E. CISG & Party Autonomy & Flexibility ...................................................................13 IV. Legal perspective .............................................................................................................15 A. Comparative Analysis of the General Framework .................................................15 B. Remedies for a Contractual Breach .........................................................................22 C. Opt-In versus Opt-out Regime .................................................................................24 D. Gap Filling ..................................................................................................................25 E. Battle of Form s...........................................................................................................26 1 Ranak Banerji is a law graduate, B.A. LL.B. (Hons.) from the West Bengal National University of Juridical Sciences, Kolkata. 2 Rida Rahman is a final-year B.A. LL.B. (Hons.) student at the West Bengal National University of Juridical Sciences, Kolkata.