New Delhi Aug 7 (IANS) In order to seize the benefits of globalization developing countries need to strengthen and modernize their democratic institutions and public administration Chief Justice of India (CJI) Dipak Misra said here on Tuesday adding that Indian judiciary was responding quite well to the emerging legal scenario by unhesitatingly borrowing from international judicial approaches.
He cited the examples of euthanasia law and the privacy judgment in this connection.
Delivering the first annual A.P.J. Abdul Kalam lecture on the topic of Role of judiciary in the era of globalization organised by industry body Assocham here the CJI also emphasised that international businesses must realise their duty towards not just the parent nation but also the host countries and invest in their social development as well as their corporate social responsibility.
"The legal systems of various countries and the judiciary in particular have to respond affirmatively to this irresistible phenomenon of globalization. The approach must be to inculcate the best practices of various nation states by enriching the judicial arm from the experiences of others so as to make the institution of judiciary more robust than ever " Misra said.
He said globalization and the consequent global reach of the digital economy will require development of new legal rules at the national and international levels and fine-tuning of existing judicial systems qua commercial disputes.
"Post-gobalisation a new world order has emerged where liberal values across the borders are accepted as the new norm. The Indian constitutional courts have also displayed a profound respect towards the new international norms and foreign policies which are apposite for the Indian environment " he added.
The CJI said that one of the "foremost components" which the Indian judiciary has to focus on in order to foster the positive impacts of globalization for our country is to ensure speedy disposal of commercial cases so that our country becomes a desired destination for global giants.
"I must inform you that the Indian judiciary is totally committed towards achieving this objective. We are consciously investing in innovative strategies to expedite commercial dispute resolution mechanism " he said adding that over the last few years the Supreme Court has shifted its stance and has adopted a pro-arbitration approach and refrained from assuming the role of an "interventionist".
"Thus the courts of India through their rulings have endeavoured to create favourable conditions in India for business entities by not only inducing them to set up their businesses in India but also to seamlessly transact with Indian consumers. I am sure that this approach would continue in the times to come " Misra said.
Turning to the business leaders present at the event the CJI said that they ought to strive towards success by giving paramount importance to human values and professional ethics.
"International business houses have the bounden duty to undertake corporate social responsibility not only in their home countries but also in nations where they have strong business footprints. Helping the host nation in alleviating their social problems through their economic capacity would invariably result in their acceptance in the host country and this in my view would usher in a global order where everybody would emerge as a winner " he said.
"It is globalization and economic liberalization that gradually lead to political and social reforms and we must make all possible efforts to ensure the participation of one and all in this process of reforms " he added.

--IANS mak/tsb