Union Law Minister D.V. Sadananda Gowda said here on Wednesday that there was a need for laws to ensure a business-friendly environment in tune with the Union government’s “Make in India” vision.
Speaking at the same event, Chief Justice of India H.L. Dattu emphasised that political freedom would remain an “empty idea” unless the basic socio-economic rights of the marginalised sections are first addressed. The Chief Justice and the Law Minister were sharing the dais at the Law Day function in the Supreme Court.
Mr. Gowda said the objective behind the “Make in India” policy was to enable India to attain a global reputation as a country with a “business-friendly environment.” He said foreign direct investment had become the rule rather than the exception. Restrictions had been relaxed and rules concerning trade and investment had changed over time.
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He cited the need to simplify litigation processes and make more effective alternative dispute resolution mechanisms. In this light, he said amendments to the Arbitration and Conciliation Act could make India a “major arbitration hub.” In his annual Law Day address, Chief Justice Dattu said the constitutional promise to ensure the basic socio-economic rights to the poor and starving remained largely unfulfilled.
“As global economic regime begins to have an increasing influence on domestic fiscal policies, we have to take measures to safeguard our social security, measures that ensure access to the most basic goods and services,” Mr. Dattu said.