“You possess many strengths, one weakness, and numerous opportunities avowed Shri Arjun Ram Meghwal , Union Minister of State for Law And Justice at a pathbreaking conference themed ‘Rethink , Redefine and Re-evolve the Legal Profession in India. In his pivotal address at the recent General Counsels' Association India (GCAI) conference, the Minister revealed plans to amend the Advocates Act, 1961, to potentially provide General Counsels (GCs) with statutory recognition considering their integral role in contributing to the national GDP across various sectors.

Recognising the significant contributions of GCs as corporate legal heads, the Minister emphasized their growing role in both corporate governance and the broader legal framework.

The conference focused on improving the professional status of GCs; individuals who are responsible for managing an organization’s legal affairs, advising top management, and ensuring legal compliance. One of the central topics was the call for statutory recognition of GCs, akin to that granted to practicing advocates under the current law.

During the dynamic session, GCs conducted a SWOT (Strength, Weakness, Opportunity, Threat) analysis of their profession, identifying the absence of statutory acknowledgement as a major shortcoming. Acknowledging the community’s significant contribution, Shri Meghwal responded, saying, “You possess many strengths, one weakness, and numerous opportunities.”

Prominent voices of Dr. Lalit Bhasin, president of the Society of Indian Law Firms (SILF), and retired Supreme Court Justices AK Sikri and Hima Kohli lent their support to the cause of statutory recognition for GCs. Justice Sikri, now heading the News Broadcasters and Digital Association (NBDSA), praised GCs for their expertise in navigating India’s complex regulatory environment, especially crucial in today’s competitive markets. Justice Kohli discussed the evolving challenges posed by emerging technologies like Generative AI, underlining the importance of GCs in guiding businesses through these turbulent times.

The conference concluded with powerful endorsements from legal luminaries, including Senior Advocate Pinky Anand, Dr. Shardul Shroff of Shardul Amarchand Mangaldas & Co., Amit Singh from Linklaters, and Harsh Pais of A&O Shearman, all of whom reinforced the need for in-house counsel’s statutory recognition to match their expanding role in modern business operations.

Source: NEWS