'Nyaya-nomics' needed to promote economic growth through consistent adjudication: CJI
Surya Kant said consistent jurisprudence lowers transaction costs and builds trust, calling it the economics of justice.
- On Saturday, Chief Justice of India Surya Kant addressed the 11th BRICS+ Legal Forum in New Delhi, coining "Nyaya-nomics" to describe the intersection of Rule of Law and economic conditions.
- The forum centered on 'Rule of Law Frameworks and Institutional Capacity Building for Economic Resilience, Innovation and Sustainability,' with CJI Kant emphasizing that institutions are the architecture of growth, not scaffolding erected after development begins.
- CJI Kant introduced "Nyaya Setu," a bridge of justice connecting 11 legal traditions, urging that trust among these nations must be cultivated deliberately rather than awaited passively.
- "A courtroom that keeps its word quickly becomes a country the world is willing to trust with its capital," CJI Kant stated, explaining that consistent legal interpretation reduces transaction costs and spurs growth.
- Stressing institutional capacity, CJI Kant warned that sustained growth cannot rely on geography alone, cautioning that without strong architecture, an economy is merely "a stack of good fortune waiting for its first storm.
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Nyanomics, Nyay Setu: CJI Surya Kant unveils twin vision to unify legal, economic power across BRICS Plus - The Tribune
Chief Justice of India, Justice Surya Kant on Saturday coined the term 'Nyanomics' to describe the link between the rule of law and favourable economic conditions, while proposing 'Nyay Setu' as a bridge connecting 11 legal traditions to strengthen judicial cooperation among BRICS Plus nations.
aninews.in
Nyanomics, Nyay Setu: CJI Surya Kant unveils twin vision to unify legal, economic power across BRICS Plus
Chief Justice of India, Justice Surya Kant on Saturday coined the term 'Nyanomics' to describe the link between the rule of law and favourable economic conditions, while proposing 'Nyay Setu' as a bridge connecting 11 legal traditions to strengthen judicial cooperation among BRICS Plus nations.
The Economic Times
Times of India'Nyaya-nomics' needed to promote economic growth through consistent adjudication: CJI
Chief Justice Surya Kant highlighted the need for 'Nyaya-nomics' for national progress. Consistent adjudication and trust in legal processes reduce transaction costs. Strong institutions, especially the judiciary, are crucial for economic resilience. Development in BRICS+ nations correlates with commitment enforceability.
CJI Surya Kant advocates Nyaya-nomics and Nyaya-Setu for economic growth at BRICS legal forum Can the judicial system also boost the country's economy? CJI Surya Kant's new vision of "Nyaya-nomics" and "Nyaya-Setu" has sparked a new debate in economic and legal circles. What did he say? Find out...
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