Chief Justice of India (CJI) N.V. Ramana on Wednesday said legal profession was no longer a career of “last resort” and India was witnessing unprecedented growth in the legal landscape, especially in commercial law.
“Despite the pandemic in 2020, India recorded over 350 mergers and acquisitions deals worth $ 37.5 billion; the cross-border deal activity recorded over 140 transactions with deal values worth $ 21 billion. Moreover, 2020 saw record private equity deal-making activity in India with investments worth $ 40 billion, 28% higher than the previous record witnessed in 2019, with around 950 deals,” he noted.
As a first-generation lawyer himself, the CJI stated, he was at the receiving end of skepticism about his career choice.
“People would ask ‘why are you studying law?’, ‘did you not get any employment elsewhere?’, ‘do you not want to get married?’”, he said. For a first-generation lawyer, a sustainable practice in courts was a dream that was rarely realised. Therefore, it was often considered as a degree of last resort. “Speaking from personal experience, due to lack of resources, most of us learnt while practising,” Chief Justice Ramana observed in his virtual address during the release of a coffee table book of the Indian Society of Law Firms.
The event was also graced by Attorney General K.K. Venugopal and senior advocate Fali Nariman.
Call to law firms
Chief Justice Ramana said law firms have been in the forefront of the country’s economy. However, they should consider their community outreach to dispel the “prevailing perception that law firms are only for the service of rich men”. Law firms must focus on more pro bono work for the poor.
“Internationally, law firms are taking up several social causes and actively engaging in providing justice to those in need. I urge you all to take up more and more pro bono cases and reach out to those who are inhibited from reaching us. When it comes to fulfilling our constitutional aspirations, we all must do our bit,” the CJI added.
