Consultation needed to make Indian legal market global: Law

Consultation needed to make Indian legal market global: Law
Consultation needed to make Indian legal market global: Law

There is need for a comprehensive consultation with all stakeholders as the advent of foreign direct investment (FDI) and globalisation is giving bigger opportunities to Indian lawyers, Union Law Secretary Suresh Chandra has said.

He emphasised that there is a dire need to bring transformation in the traditional techniques and reforms which have been practiced in the country for years in the wake of the evolution of information technology and advancement in the means of transport.

Chandra was speaking at a day-long summit organised by the Indian National Bar Association and Ministry of Commerce and Industry yesterday on reforms in the Indian legal sector.

He said that it is crucial to expand the sphere of the Indian legal services not only within the court system but outside it as well.

“Furthermore, a robust mechanism is required for developing the legal system on the basis of reciprocity.

Besides, there is also a need for comprehensive consultation with all stakeholders. This has to be gradual and in a calibrated manner, not a high-inaugural activity,” Chandra said.

Around 11 bar associations from across India were part of the event in which prominent speakers were Satya Pal Singh, the minister of state for HRD (Higher Education), Sangeeta Saxena, additional economic advisor, Ministry of Commerce and and Industry and senior advocate R S Suri, president of the Supreme Court Bar Association.

The conclave held a series of interactions on various opportunities and on-going challenges that have recently emerged with the arrival of globalisation in the Indian legal sector.

One of the key objectives of the event was to seek views on transforming India into a hub of international arbitration, which could facilitate an improved business climate for domestic and international commercial transactions.

( Source – PTI )

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