This refers to the article "Does the Indian Contract Act need a re-look?" (January 12). Indian laws have evolved out of the laws during the British rule and over time, they have been adjusted and amended to suit the socio-political and technological changes in the country. But we must admit that such changes are required more often, considering the rapid changes in business modalities, thanks to technological advancements and globalisation.
While the three areas highlighted in the article deserve higher priority for implementation, there is one aspect of these changes that one must look from a global perspective, by way of alignment with European and American laws. This will help us bring more advanced aspects of the law from developed countries. We are already seeing a convergence in accounting standards with the International Financial Reporting Standards; the same should happen in the field of law.
M L Kabir Kolkata
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