With the increasing international trade and commerce, the transnational commercial disputes have also increased at a phenomenal rate. Likewise, with the increase in transnational competition disputes, the role of arbitration as an alternative to competition dispute resolution has also become popular. In application of competition laws, arbitration can play a vital role in resolving competition disputes. Arbitration has been well recognised by the States as one of the dispute resolution mechanisms alternative to litigation. The paper examines the international experience of arbitrability of competition disputes and its application in European Union (EU) Competition Law vis-à-vis competition disputes in India. It concludes with the appraisal of the prospects and possibilities of arbitration in resolving international competition disputes. As India is becoming hub for international trade and commerce, it is hoped that arbitration will help in resolving competition disputes among the most developed competition law jurisdictions.