Good governance attracts investors. Indian judicial system is fearlessly independent but lack of governance has led to adverse impact on Foreign Direct Investment (FDI) in the country. In the last decade, foreign investors invested in China because of good governance. “Investors were feeling secure in China even though the judicial system is not so strong,” said Justice AK Sikri, Judge, Supreme Court of India while addressing the students in a national seminar on opportunities and challenges in globalisation and governance held at IMS Unison University in Dehradun on Saturday.
“Gujarat Government adopted a single window system for clearance of projects which attracted the investors significantly. Clearance of projects at various windows is causing disinterest among the enterpreneurs,” he added.
He stressed on the necessary changes in legal education to meet global requirements. To achieve this, Bar Council of India can play a significant role to draft syllabus of international standards. BCI should initiate several steps enhancing legal education and research in the country.
One of the speakers said that Union Government treats judiciary system as non-productive entity. Shortage of judges in various courts including Allahabad High Court is leading to a large number of pending cases.
Several law colleges in India are faced with basic infrastructural constraints. This has happened because of lack of coordination between BCI and University Grants Commission (UGC). Teachers should update themselves with recent development in the filed of legal education. Globalisation does not only confine to economic development but it covers several aspects including economic policy, political governance and others.
Experts from various disciplines attending the seminar talked on issues relating to major themes of globalisations like transparency, corruption, Right to Information, Foreign Direct Investment, role of multi-nationals, international trade, inclusive growth and sustainable development during two day long national seminar concluded on Sunday.
Other present on the occasion were Bar Council of India (BCI) chairman BS Sinsinwar, IMS University chancellor RC Goel, Vice Chancellor MP Jain, Ram Manohar lohia National law University, lucknow, Vice Chancellor Prof Gurudeep Singh, IMS University Associate Pro Vice Chancellor Pawan Kumar Aggarwal, School of law dean Prof MK Bhandari among others.