How can India become a $10T economy? CJI Kant explains
What's the story
Chief Justice of India (CJI) Surya Kant has said that India's transformation into a $10 trillion economy cannot be achieved through capital or policy alone. He stressed the importance of a robust legal system in achieving this goal. The CJI made these remarks while addressing the 'Rule of Law Convention 2026' on 'Legal Reform Roadmap to a $10 Trillion Bharat,' organized by the Bar Association of India.
Legal evolution
Need for predictability, specialization in commercial law
CJI Kant stressed on the need for predictability, specialization, and a culture of good faith in commercial law to make India a $10 trillion economy. He said that mechanisms like mediation could do more for India's economic competitiveness than many reforms that attract greater attention. The CJI also emphasized the importance of technology and adapting legal education to meet the needs of an evolving economy.
Investor assurance
Trust's role in economic growth
Kant said that the kind of capital needed to make India a $10 trillion economy is patient and long-term. He added that before committing, investors need to know whether the legal system governing their investment will remain honest, consistent, as well as predictable over the years. "At its core, the question is one of trust; It is not merely about enforcement at the stage of breach of a contract," he said.
Dispute evolution
Evolution of commercial disputes over 2 decades
The CJI noted that the nature of commercial disputes has changed over the last two decades from relatively simple matters to more complex ones. He said this shift is not merely procedural but fundamentally economic in origin. "As commerce grows in scale and ambition, it moves away from isolated transactions toward continuing relationships," he explained, highlighting how economic growth leads to more intricate business interactions.
Legal adaptability
Legitimacy of law lies in its responsiveness to society
CJI Kant stressed that the legitimacy of law lies in its ability to be responsive to the society it serves. He said there's no need to discard existing laws but rather enable them to grow and protect not just the moment of agreement but the full life of a relationship. "Our courts have already paved the way in their approach to public contracts and legitimate expectations," he noted, emphasizing judicial progress toward fairness in law.
Training focus
Need for specialization in legal training
Kant stressed the need for specialization in legal training to match the complexity of modern commercial disputes. He said, "The nature of commercial disputes today has outgrown the scope of the generalist framework within which much of our legal training has been traditionally oriented." The CJI also highlighted a pressing need for periodic orientation among judges to understand different nuances of the economic system beyond just law books.