INDIA Trends and Developments Contributed by: Akshika Harikrishnan, Mohona Thakur and Nikhil Asrani, Khaitan & Co
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Trends Defining Indian Private Wealth in 2025 Private wealth in India is undergoing a profound trans - formation. Indian businesses, seen as the backbone of the economy, are at a critical juncture of evolution. This shift is not merely a result of economic growth but is also driven by a confluence of globalisation, fostering a conducive environment and regulatory changes. As India strides towards becoming an eco - nomic powerhouse, these changes are reshaping the way wealth is accumulated, preserved and transferred through generations. In this dynamic context, it is crucial to understand the key trends that are on the horizon. This article aims to delve into these developments by providing insights on the evolving landscape for stakeholders to navigate. Uniform Civil Code (UCC): implementation hurdles Personal and religious laws govern marriage, divorce, adoption, maintenance and succession. On 27 Janu - ary 2025, Uttarakhand implemented the UCC marking a significant milestone. While the legislation aims to ensure equality of rights and a more effective way of administering personal laws, its implementation has faced hurdles. The introduction of UCC has sparked debates about its impact on personal laws and cul - tural practices. Several public interest litigations and petitions have been filed challenging the constitution - ality of the UCC. Provisions such as mandatory regis - tration of live-in relationships was met with resistance and there have been negligible registrations since its implementation.
While Assam started the process of introducing UCC, it has now decided to wait until it is rolled out across the country. Gujarat has started the groundwork towards implementing UCC. However, the legal and practical challenges of implementing the UCC are yet to be fully understood. The success of implementa - tion could set a precedent, but it remains to be seen how these challenges will be addressed and what the broader implications will be for a country as diverse as India. Advance Medical Directives (AMDs): practical challenges Recognising an individual’s right to die with dignity, in 2018 the Supreme Court recognised AMDs or “Living Wills”. To ease the administration process, in 2023 the guidelines were streamlined and simplified. However, there were practical challenges in its implementation. In response, several state governments have issued guidelines to facilitate registration and execution of AMDs. For instance, in Karnataka district, health offic - ers have been directed to nominate medical practition - ers for the Secondary Medical Board and officers in rural and urban areas have been designated as AMD custodians. Kerala has seen the initiation of a Living Will information centre at a medical college. In Maha - rashtra, certified copies of AMDs are now required to be submitted to appointed custodians in local munici - pal corporations or panchayats . Despite these efforts, there is lack of awareness and individuals are facing challenges in registering AMDs and record keeping at the ground level.
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