INBA’s Bar Leadership Summit On Reforms In Indian Legal Services’ Sector
The Indian National Bar Association in association with the Department of Commerce, Ministry of Commerce and Industry and the Centre for Trade and Investment Law, Indian Institute of Foreign Trade, is holding a Bar Leadership Summit on reforms in the Indian legal sector on Saturday, November 11, 2017. The occasion will be graced by Hon’ble Minister of Commerce and Industry, Shri Suresh Kumar Prabhu, Hon’ble Minister of State for Human Resources Development Shri Satyapal Singh, Shri Suresh Chandra, Secretary Law, Minstry of Law & Justice, other senior officials from the Government of India and other distinguished guests from the legal services sector.
The Leadership summit will explore the opportunities and challenges spawned by economic globalization that have dramatically reshaped the traditional sectors of the legal services such as arbitration and litigation. The event is expected to initiate comprehensive discussions and dialogue aimed at developing a roadmap for legal sector reforms in India to empower our legal fraternity to take it to next level. The right law and proper enforcement of the same can certainly help India to become largest & vibrant economy.
Transforming India into a Hub for International Arbitration through strengthening Institutional Arbitration
A key objective of the Summit is to seek views on transforming India into a hub for international arbitration and initiating the much-needed reforms necessitated by the increasing transnationalisation of the legal profession and allied services. India can become a hub for international arbitration and mediation services by ensuring meaningful domestic participation of foreign arbitrators in international commercial arbitration. It has been recognized that in order to achieve this objective, ‘institutional arbitration’ needs to be developed. Institutional arbitration can facilitate an improved business climate for domestic and international commercial transactions, and can contribute significantly to improving ease of doing business in India.
The Summit is also an opportunity is to seek views on liberalization of the legal services to enable foreign lawyers and foreign law firms to operate in a limited and regulated manner. An open and well-regulated legal profession is an enabler for foreign direct investment and facilitation of transnational business and investment. Recognition of the concept of foreign legal consultants (FLCs) is increasingly considered as a way of encouraging foreign participation in the legal services sector in a limited manner. Limited access for foreign law firms for practicing non-Indian law could help claw back a significant amount of work which is currently rendered from off-shore locations. However, reforms are needed for the overall growth and competitiveness of the legal services sector and for preparing a level playing field for Indian lawyers and law firms for harnessing the opportunities as well meeting the emerging challenges in this important services sector.
The Summit aims to bring together a range of stakeholders from the legal sector in order to engage in a meaningful discourse and dialogue. To enable this, the Summit will feature technical sessions on areas like arbitration, domestic reforms and the multitudinous developments hastened by the processes of globalization and liberalization.
Venue –
The full-day Summit will take place on 11 November, 2017 at SCOPE Convention Centre, CGO Complex, Lodhi Road, New Delhi.
