India, Nov. 14 -- India aspires to become a developed economy by 2047. But it cannot achieve that ambition when enforcing a contract takes years, resolving a property dispute can consume a generation, and understanding the law requires expensive professional help. India's legal system remains a major economic bottleneck. The World Bank's last Doing Business assessment estimated that enforcing a contract took 1,445 days - almost four years. Things have improved since, but how much depends on the person telling the anecdote. The National Judicial Data Grid now records more than five crore pending cases in district courts alone.

The economic and human costs are enormous. Businesses hesitate to enter agreements they cannot reliably enforce. ...