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Was wondering if there is any way if frustrated/burn out Associates of T2-T3 firms, Bar Council vakil-neta types and Trial Court lawyers feeling downward pressure on fees can band together and create a shortage of supply in legal market to make the situation better for average lawyers ? This will benefit both practicing lawyers firms and Associates as shortage of talent would mean higher fees, higher retainers and better terms with the litigating public/Clients.
Bestie this is a cartel

It may be legal in some situations but it’s a tricky line when it concerns self employed professionals
Bhai Mumbai University se Law kiya hu. Ye sab fancy Acts nahi padhe hai ! Lekin haa Hindu Law, Muslim Law, Succession Act aur baki typical trial courts me vakeelgiri acts zaroor padhe hai !
What you are talking about is cartelisation. I don't know how legal this is.
Not really. Trade associations, when registered, have an exemption.
β€œLaw is a noble profession. Lawyers are not employees”

Lawyers can’t form a registered trade association under the TUA. Not saying I agree with this, just stating the present position.
If you can get people on board then you definitely can. However, you need an association large enough and people who are willing to listen. Need not be physical, it could be online like r/WSB.