On Saturday, Chief Justice of India (CJI) Surya Kant emphasized the significance of a robust legal framework in achieving India’s ambition of becoming a USD 10-trillion economy.<\/p>\n
Addressing the theme ‘Legal Reform Roadmap to a $10 Trillion Bharat’ at the ‘National Rule of Law Convention 2026’ hosted by the Bar Association of India in the capital, CJI Kant remarked, \u201cA $10-trillion Bharat cannot be constructed merely through financial resources or policy initiatives. A vital component of this development will be the effectiveness of the legal system that upholds the rule of law and the commitments that underpin it.\u201d<\/p>\n
The CJI noted that the legal structures that supported India’s economic growth over the past thirty years were designed for a less complex economic environment. He stated, \u201cThe liberalization efforts of the 1990s spurred growth, broadened the middle class, and instilled a sense of economic optimism that had been absent since Independence. However, we must recognize that the legal mechanisms that supported that era\u2014such as contract enforcement, property registration, and dispute resolution\u2014were adequate for a different commercial landscape.\u201d<\/p>\n
According to CJI Kant, achieving the USD 10-trillion target necessitates attracting a distinct type of capital. \u201cThis capital is characterized by patience and a long-term perspective, relying on institutional trustworthiness, whether it comes from a pension fund investing in infrastructure, a tech firm sharing proprietary knowledge, or a global manufacturer establishing an integrated supply chain. These are not short-term investments; they require long-term commitments.\u201d<\/p>\n
He explained that potential investors want assurance regarding the legal framework governing their investments, which they expect to be honest, consistent, and reliable throughout their engagement. \u201cAt its essence, the concern revolves around trust,\u201d he added.<\/p>\n
The CJI acknowledged that while existing commercial laws have been effective and their foundational principles remain solid, the legitimacy of these laws must adapt to the evolving societal context. \u201cThere is no necessity to discard the current framework; instead, we should enhance it to safeguard not only the moment of agreement but also the entire duration of the relationship,\u201d he said.<\/p>\n
CJI Kant also stressed the need to incorporate technology into the legal system as a fundamental infrastructure element rather than a mere enhancement. \u201cTechnology should be integral to our legal infrastructure, including digital case management, AI-assisted research, and electronic filings, as these elements significantly influence the efficiency, accessibility, and affordability of justice,\u201d he stated. However, he reiterated that human judgment must remain central to the process, aiming to eliminate unnecessary barriers between legitimate claims and their fair resolution.<\/p>\n
Furthermore, CJI Surya Kant highlighted the essential role of the legal profession in achieving this vision. He observed that commercial jurisprudence has benefitted from a sustained partnership between the bar and bench over the years, and he called for renewed collaboration and commitment from both sides as they move into the next phase of this journey.<\/p>\n","protected":false},"excerpt":{"rendered":"
On Saturday, Chief Justice of India (CJI) Surya Kant emphasized the significance of a robust legal framework in achieving India’s ambition of becoming a USD 10-trillion economy. Addressing the theme ‘Legal Reform Roadmap to a $10 Trillion Bharat’ at the ‘National Rule of Law Convention 2026’ hosted by the Bar Association of India in the […]<\/p>\n","protected":false},"author":2,"featured_media":7592,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[40,155],"tags":[],"class_list":["post-7593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india","category-in-legal"],"yoast_head":"\n