Business law course across India

Why Study Of Business Law Is Gaining Fast Acceptance In India? Study Business Law From Best Faculty

Business activities involve a number of activities both foreseen and unforeseen. They sustain the development of society and create an ecosystem for the healthy functioning of both the public and private enterprises. India, which is poised to become a leading economic power in the coming decade has been experiencing turbulent changes in the business environment.

Hence, conducting and managing a business involves different stakeholders for different kinds of specialized functioning such as accounting, marketing, legal compliances, human resourcing, marketing, partnering, funding, and many others. Taking cognizance of various internal factors influencing business transactions, the study of Business Law is becoming a lucrative career option.

What Factors Are Encouraging Students To Study Business Law?

India offers opportunities in almost every sector to pursue a career. There are renowned centers of learning for engineering, medical sciences, accounts, marketing, journalism, and most importantly of business studies that form the backbone of all the industrial functioning. It is interesting to note that globalization and technological advancements have propelled India to paradigm shifts in its economy. There is a multitude of factors that empower to ensure smooth and lawful implementation of the business process.

• Political Uncertainty In India

India is a democratic nation where the ruling party is lawfully elected via open voting. Different parties have different interests and sometimes completely opposite and contradictory ideologies which might tend to jeopardize the financial and business interests of a group of industrialists and business professionals. Moreover, coalitions can create even more complex situations for executives.

• Increased Competitiveness In Different Industries

People in India are experiencing a conducive business environment under the leadership of both central and state governments. Hence, more ambitious and industrious people are coming forward with different and unique business ideas to run a successful business. This has led to an increase in the supply of both products and services in excess of demand, which increases competition both at the entry-level and at later stages of the businesses.

• Ownership And Funding For Business Enterprises

With the increasing awareness regarding career independence and the ambitious outlook of the individuals, the ownership pattern is witnessing drastic changes. To steer the enterprise on the path of accelerated growth and success, senior management is looking forward to raising funds from different sources such as angel investors, government schemes, and venture capitalists both in the form of public equity and private equity. Additionally, the focus is also being laid upon to build strong management and executive teams, which is eventually prompting the founders of the businesses to have different kinds of partnership models. Nations have been eyeing upon foreign investments by easing the business opportunities and associated formalities. Hence, compliance with key business laws needs a strict check.

• Safeguarding Interests of Workers And Consumers 

It is an understood fact that the nature of most businesses is demanding. Hence, any kind of issue or discrepancy can have huge repercussions upon the interests of either employees or consumers and sometimes even both. It is particularly smart and judicious to have certain guidelines or policies enforceable by the law of the land to supplement morality in the business environment. This with regards to the quantity and quality of the product, efforts recognition and employee’s well-being, consumer’s right to a justified hearing and appeal against any malpractices, and a lot of more similar factors. 

• Vested Global Interests

Because of globalization and robust supply chains facilitated via rail, road, air, and water transportation systems, even the smallest of all economic activity has effects on more than one nation. Because of the interdependence of nations on each other for funding, raw material, manpower, supply, and demand it has become extremely important to protect the interests of all the parties concerned by following the regulations framed in a non-prejudiced manner.

What Different Business Laws Are Particularly Being Studied In India?

There are many government and private universities, colleges, and professional institutes in India that are imparting education related to Business Law in different forms. It is particularly being incorporated into the curriculum of different courses such as B. Com, M. Com, BA, MA, MBA, Chartered Accountant, Company Secretary, LLB, etc. Some notable laws most widely and frequently discussed and taken note of in India are as follows-

• Indian Contract Act of 1872
• Partnership Act of 1932
• Banking Regulation Act of 1949
• Competition Act of 2002
• Limited Liability Act of 2008
• Consumer Protection Act of 1986
• Standards of Weights & Measures Act of 1956
• Companies Act of 2015
• Foreign Trade (Development and Regulation) Act of 1992
• SEBI (Securities and Exchange Board of India) Act, 1992
• Factories Act of 1948
• Income Tax Act of 1961
• Reserve bank of India Act of 1934

National Law University, Institute of Chartered Accountants of India, Institute of Company Secretaries of India are some of the notable institutes who have a glorious past of producing some of the most influential professionals and experts in the practice of Business Law in India.

How Superprof Can Ease Your Search For Best Classes Of Business Law?

It is quite convincing that having a well-defined policy for any activity makes processes simple and easy for all to be on the same page. People in India entrust high faith in the law of the land. Hence, to protect the integrity of business operations and to fill the demand of legal experts, youths in India are eyeing upon Business Laws as an attractive career option.

Superprof has also been extremely supportive by facilitating the students with an online platform to accomplish their search for an expert faculty of Business Law in India. It enables the interested students to enter the subject name and the area in which they want to locate their faculty. Superprof maintains a database of relevant faculty members or guides along with their detailed profiles displayed before the students on their screen. The student can take a free demo class with the most suitable teacher and finalize it as per his choice. This process also saves the unnecessary expense of money and time in door to door search and eliminates the need to go out in the times of the Coronavirus.