India welcomed global jurists and legal experts to the 6th Full Meeting of the Standing International Forum of Commercial Courts, focusing on ‘Commercial Law and the 75th Anniversary of India’s Constitution’.
The two-day conference, inaugurated by Chief Justice of India Justice BR Gavai, brought together chief justices, judges, and delegates from multiple jurisdictions to discuss the evolution of commercial jurisprudence and the future of India’s economy under constitutional principles.
Justice Gavai extended greetings to all participants. He highlighted that the forum symbolises the shared global commitment to the rule of law and commercial stability.
“This gathering embodies our belief that transparent legal systems and stable commercial frameworks are essential to global economic cooperation,” he said.
Justice Gavai emphasised the relevance of India’s Constitution in shaping commercial law.
He noted that the framers balanced economic freedom with social responsibility through provisions such as Article 19(1)(g). They also incorporated the Directive Principles of State Policy to guide this balance.
Article 14, which prohibits arbitrariness, has ensured fairness and transparency in State actions. Part XIII, governing trade and commerce, has provided a foundation for India’s emergence as the world’s largest single democratic market.
He traced the development of India’s commercial law through two phases. The first was pre-1991, when a command-and-control economy prevailed, and the second was post-1991, following liberalisation, privatisation, and globalisation.
Key legislative milestones included the Companies Act, 1956, MRTP Act, 1969, SEBI Act, 1992, Arbitration and Conciliation Act, 1996, Competition Act, 2002, Companies Act, 2013, Commercial Courts Act, 2015, and the Insolvency and Bankruptcy Code, 2016.
These laws strengthened governance, transparency, investor protection, and dispute resolution, aligning legal frameworks with economic growth.
The Chief Justice highlighted the judiciary’s role in maintaining fairness, transparency, and accountability in commerce. He also emphasised its support for innovation and economic freedom.
He stressed the importance of Environmental, Social, and Governance (ESG) norms, fintech, blockchain, AI, and the digital economy in shaping future commercial law, alongside emerging challenges in privacy, consumer consent, and cross-border trade.
As India celebrates 75 years of its Constitution, Justice Gavai emphasised that economic growth must serve human welfare.
Transparent regulatory bodies, efficient tribunals, and responsive courts are essential to maintaining trust between the state, investors, and society. The forum’s deliberations will actively guide Indian and international jurists in building a fair, accountable, and inclusive commercial system.
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