Key factors behind India’s failure to achieve USD 10 trillion economy
New Delhi: Chief Justice of India Surya Kant emphasized that India’s transformation into a USD 10 trillion economy is hindered by several factors, including inadequate legal architecture, lack of predictability, and insufficient specialisation in commercial law.
According to Kashmir Media Service, speaking at the ‘Rule of Law Convention 2026’, he highlighted the need for a culture of good faith in commercial law and institutional reliability to attract long-term capital investments. Key factors contributing to failure include: Inadequate legal architecture to meet evolving economy demands; lack of predictability in commercial law; insufficient specialisation in commercial law and lack of institutional reliability and investor confidence and inability to attract patient, long-term capital investments.
The CJI stressed that the quality of the legal system is crucial for achieving the USD 10 trillion economy goal, and India needs to overhaul its legal architecture to meet the demands of an evolving economy.
