Shubharth Shukla Assistant Professor of Law, Hitkarini Law College, Jabalpur, Madhya Pradesh & Arima Pankaj, Assistant Professor of Law, Kalinga University, Raipur, Chhattisgarh
ABSTRACT
The growth of a country's economy is based on increasing urbanisation and poverty alleviation which leads to a significant increase in foreign investments. As per reports, World Investment Report 2021 was released by UN Conference on Trade and Development (UNCTAD), India is the 5th largest FDI recipient in 2020. The Indian judiciary is playing an instrumental role in justice. However, in recent times the cases are piling up and the Courts are overburdened with cases. Due to the lack of a proper mechanism to deal with the pendency of cases, large firms refrain from entering into contracts which affect the Ease of Doing business in India. This paper aims to analyse the effect of delay in decisions of courts in matters of economic contracts/ commercial cases as well as the reason for the pendency of such cases and would also suggest various measures for prompt decisions in economic/commercial matters, which will benefit the numerous people who are dependent whether directly or indirectly in that particular project.
Keywords: Business, Contracts, Economy, Judiciary, Pendency of cases, Infrastructure, Development, Foreign Investment.
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