The increase in global trade has resulted in more conflicts arising in cross-border business dealings. To deal with this, different methods have been developed to resolve disputes, such as litigation, arbitration, and mediation. Arbitration and mediation have become preferred options for international commercial disputes due to their advantages over litigation. However, mediation encounters difficulties, particularly in the absence of a consistent legal framework for recognizing and enforcing settlement agreements reached through mediation. The Singapore Convention on Mediation aims to promote the use of mediation in international commercial disputes as an effective approach. It is seen as a significant step towards establishing a unified legal framework for enforcing settlement agreements reached through mediation. This research paper assesses the current state of international commercial mediation after the implementation of the Singapore Convention and examines its impact on the adoption of mediation in international business transactions. The paper addresses the challenges involved in enforcing settlement agreements reached through mediation and proposes solutions to overcome these obstacles. Recently, the Mediation Bill, 2021 was introduced by the Indian government in the Parliament. The Bill does not address the enforcement of settlement agreements that originate from international mediations conducted outside India. On this note the Bill and implications shall be thoroughly analyzed contributing to the advancement of mediation in resolving international commercial disputes.