Foreign Law Firms to Open in India Soon?
It appears that foreign law firms will soon be able to hang their shingles in India, according to a posting titled UK Law Firms In Seduction Dance For Entry Into India on the blog Offshore Outsourcing World. This is, of course, very big news indeed.
1. It will allow foreign technology-focused law firms access to the country with probably the most important IT market in the world over the next decade or two, barring the USA. For many firms, this will allow them to serve their own existing clients in a country where they have previously been prohibited from doing so.
2. It will allow firms to outsource price-pressured commoditized and mid-level services to their own offices in India, rather than referring the work to other local firms, so keeping a tighter grip on quality and client service and improving communication and collaboration efficiencies.
3. It will create a new source of skilled and experienced talent for the premier firms in Europe and North America, who are finding it increasingly difficult to find enough junior talent of the requisite quality, to meet client demands. This may very well cause a downward pressure on associate salaries in the medium term.
All is not in place yet. The Advocates Act, 1961, which prohibits non-Indian lawyers from practicing in the country, is still very much in place. But it would appear that it may be amended to allow these changes more quickly than the 2010, that our sources in India had previously indicated to us was the most likely timeframe.
fingers crossed!!!
I am practising Law IN the Supreme Court of India and at Delhi High Court at New Delhi(INDIA)since the year 1977 in various branches of Law including Civil and Corporate Law fields.
I am often visiting Chicago since the year 1993. I am glad to learn lawyers in U.S. are keen to be in India. I am equally keen to have partners from U.S. in the common interest. Please let me know about the same so that we can co- ordinate and move in that direction.
Sarat Chandra, Advocate.
Well, foreign law firms should be allowed to practise in india only if the Indian law firms are given equal status in their countries. It should be reciprocal and not one sided. Indians must be wary of English as they tend to invade India again as they had a taste of it for 200 years in Indian soil. similarly Indian solicitors must be allowed to practise in western countries and if that country imposes restrictions and the same restrictions must be applied in India also when they come to India.
It is wellcome news and in accordnace to WTO agreement. I am looking for joint venture with foreign law firms. I have established law firm in souther India,and previously headed legal department of MNC. You can reach me at my mail id nagesh.palvoy@gmail.com.
Could I know of American Law firms outsourcing work to India and also of law firms actively involved in India related work.
i am a student of law . please tell me how i will be benifted by uk law firms. wil i get recruitment in these firms
how do u see the future of indian law practise?
Please contact if American Law firms wishing to outsourcing work to India and also of law firms actively involved in India related work. Looking for partnership with US law firm.
Clearly, everyone is expecting the advent of foreign law firms into India, either with anticipation or with excitement. It is yet to be deciphered if this entry will be any beneficial for the litigation lawyers who are still in their formative and nescient years. Nevertheless, I think most of the corporate lawyers are quite excited by the coming of foreign law firms. The reasons fo this appear to be that corporate law remains more or less homogenous across borders. Another important reason is that foreign law firms may not venture into dispute resolution, so litigators don't have any immediate benefit as such. Further, as the market develops, need for corporate law will only increase exponentially over and above litigation.
I think foreign law firms should be allowed into India. Its only fair. When we can work abroad, why can;t they work in India.
As for the question - how will law students be benefited by foreign law firms. Look at it this way - 5 years ago lawyers were given a salary of 10000. Today, freshers are starting at 100,000 at some places (AZB I'm told is 95K start now). Foreign law firms will only increase the pay scales.
India is booming guys, enjoy the revolution... don't anticipate and don't be anxious. There are always apprehensions when any sector opens up. There were apprehensions when India opened up to the world with NEO in 1991. People opposed, but here we are.. stronger, richer and happier.
Legal industry will be no different... lets make money... all of us.
Cheers!! ---
iam a law student, i want to know that how foreign law firms are help in making a good future of indian judiciary
I'm a law student and searching for an internship in a foreign law firm in india to enhance my chances to get recruited there...