Nyaya-nomics and the 11th BRICS+ Legal Forum

Nyaya-nomics and the 11th BRICS+ Legal Forum 
What is Nyaya-nomics?
•    “Nyaya-nomics” is a term coined by Chief Justice of India Surya Kant to describe the relationship between the Rule of Law and economic growth.
•    The term can be understood simply as the “economics of justice”, highlighting how an effective justice system can contribute to favourable economic conditions.
•    According to the CJI, a strong justice delivery system provides three essential foundations for economic growth: Trust, Predictability and Stability.
How does the Rule of Law support economic growth?
•    Consistent interpretation and enforcement of laws create predictability, allowing businesses and investors to make decisions with greater confidence.
•    Trust in courts and legal institutions can reduce transaction costs, as parties have greater confidence that contracts and commitments will be enforced.
•    A predictable legal environment helps create a level playing field for market participants and encourages investment and economic activity.
•    In this sense, the CJI argued that institutions are not merely supporting structures for growth but form part of the basic architecture that makes sustainable economic development possible.
•    The broader idea is that economic growth depends not only on natural resources or capital but also on the ability of institutions to enforce commitments and resolve disputes effectively.
Nyaya Setu — the broader legal idea
•    The CJI also used the phrase “Nyaya Setu” or “bridge of justice” to describe cooperation among the different legal traditions represented within the BRICS+ framework.
•    The idea emphasises that cross-border trust should be consciously built through stronger legal and institutional cooperation rather than being left to develop on its own.
Where did Nyaya-nomics emerge?
•    The concept was articulated by CJI Surya Kant on August 22, 2026, while addressing the 11th BRICS+ Legal Forum organised by the Bar Association of India.
•    The intervention connected the Rule of Law, institutional capacity and economic development, placing the justice system at the centre of discussions on economic resilience and growth.
What is the significance of the 11th BRICS+ Legal Forum?
•    The Forum was held at a time of major changes in the global order, including shifts in global trade, fragmentation of multilateral governance, technological disruption and emerging challenges to State sovereignty.