In a worldwide economy, insolvency and bankruptcy regularly cross borders. The harmonization of international bankruptcy law has arisen as a critical topic as cross-border investments and international commercial transactions increase. Despite advances in some countries, differences in national bankruptcy procedures continue to pose issues for international firms and creditors. This study addresses the notion of harmonization in the context of international bankruptcy law, determining if it is necessary and assessing the viability of such a project, particularly from an Indian viewpoint. The study examines the present situation of India's bankruptcy laws, particularly the Insolvency and Bankruptcy Code of 2016, and evaluates India's readiness and participation in worldwide attempts to harmonize. Furthermore, it examines the obstacles of obtaining worldwide. It also investigates the difficulties to reaching worldwide insolvency law uniformity, as well as potential solutions to these issues, taking into account India's socioeconomic reality and legal structure.