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I think it's high time for a course correction. We need to reorient the syllabus towards the job market and placements. The college should divide the whole programme into 3-4 broad clusters (e.g. Financial Law, Tech Law, Litigation and Dispute Resolution) and offer a broad basket of courses under each cluster. We can form a set of industry partners for each cluster and invite them to give lectures. That way, students will be "industry ready", in B-school jargon.
It seems to me that we are suffering because of faculty politics. The influential lobby of human rights professors want to corner all the funding/resources and do not want to cede control to the commercial law professors.
I sincerely hope the JGLS faculty and admin read my comment.
Now, coming to the 'influential lobby of HUMAN RIGHTS professors' point. The fact that you created a dichotomy of commercial law and human rights is telling, right? How corporate law produces inequality and hierarchy is something you will not get by reading tech law or finance law. There is no human rights vs. commercial law, there is only human rights AND commercial law; they are not mutually exclusive, unlike your spurious dichotomy might suggest. So, you have to come out of your tiny hole.
If you are so concerned about the funding - where is the private sector funding? Why do law firms not fund chairs which pay so much that Cyril bhai wants to become a professor? Non-commercial law professors are less motivated by money than commercial law people (otherwise they would have opted for other careers), so let the law firms and big tech companies establish exceptionally well-paid chair professorships. Perhaps even the great commercial law professors in institutions abroad might want to come and work in India. Would work well for everyone involved, including the students, university, teachers and the country as a whole.
It's really a supply-demand issue rather than a lobby. People who know the job-oriented courses don't really join the college to teach.