At the 5th edition of ETLegalWorld Commercial Disputes Conclave 2026, Dr. Lalit Bhasin, President of the Society of Indian Law Firms, outlined a view that India’s path to becoming a global economic hub will increasingly hinge on the credibility of its lawyers, its institutions and its dispute-resolution framework.
His remarks emphasised the role of exporting legal services as part of service‑led growth, alongside the need for reliable, predictable dispute resolution to support cross-border commerce. The statements reflect a broader conversation about strengthening professional standards, ethical practices, and the efficiency of civil and commercial adjudication in India.
Why this matters for taxpayers, businesses and investors
For taxpayers, a credible legal ecosystem reduces regulatory risk by improving contract enforceability and the efficiency of dispute resolution, which can lower the cost of doing business and improve compliance outcomes.
For businesses and investors, particularly in cross-border activity, trustworthy dispute resolution and respected legal institutions provide greater certainty, reduce the risk of protracted litigation, and help protect contracts, intellectual property, and investment commitments.
For regulators and policymakers, the emphasis on credible lawyers and institutions underscores the need to reinforce professional standards, maintain independence of the judiciary, and strengthen arbitration and mediation infrastructure to support a growing services export sector.
Context and implications
The remarks were delivered during the 5th edition of ETLegalWorld Commercial Disputes Conclave 2026, with Dr. Lalit Bhasin representing the Society of Indian Law Firms. The core message is that credibility across the legal profession and the dispute-resolution system is essential for India to realise its ambitions as a services economy and international business hub.
