India Business Law Journal – June 2007

Opening remarks

Dear Friends,

I am delighted to welcome you to the inaugural issue of India Business Law Journal.

India is taking its rightful place at the forefront of global business. The domestic economy faces groundbreaking, and at times painful, reform to satisfy the increasing demand from local and international stakeholders for higher growth, efficiency and profitability. At the same time, Indian corporates cannot afford to miss opportunities across many sectors to establish an international footprint – their very survival may depend on it.

Corporate counsel are responsible for ensuring these opportunities – and risks – are successfully managed. They, in turn, look to their counterparts in private practice – wherever they may be located – for guidance and advice.

India Business Law Journal is here to serve these readers, whether in Mumbai, New York, London, Hong Kong, Singapore, Dubai or beyond. We understand your demanding requirements and are ready to satisfy them, in print and online at Indilaw.com.

Every month, India Business Law Journal will update you on legal and regulatory developments across the range of industries and practice areas – from M&A to IP and cross-border litigation.

While ensuring you remain fully up-to-speed with all you need for your regular practice of business law, we will not hesitate to entertain controversy and foster debate – witness this issue’s comprehensive yet incisive investigation into how international firms serve their Indian and multinational clients and how their services compare.

Our Cover Story this month examines international law firms’ plans and perspectives on the liberalization of India’s legal sector and their preparations to enter the market. Yet we also feature a withering critique by Lalit Bhasin, president of the Society of Indian Law Firms, outlining the reasoning behind his unwavering personal opposition to any such moves and their devastating ramifications for India.

In the meantime, multinational businesses invest in India while domestic industries and services grapple with adopting international best-practice business models. This month’s Spotlight looks in detail at how pharmaceutical giant Novartis is struggling with full compliance in India for its international patents, while our regular case study, What’s the Deal, examines some of the first steps to introduce public private partnerships in India’s infrastructure development, particularly the turnaround story of Indian Railways.

We trust that India Business Law Journal will be a welcome source of intelligence to international and India-based businesses and law firms as they adapt and expand to take advantage of India’s growing openness to the world of cross-border transactions.

We have been overwhelmed by the support we have received so far, and I would like to offer my sincere thanks to everyone who has been involved in the launch of India Business Law Journal, particularly our Editorial Board members, Correspondent Law Firms and my colleagues at Vantage Asia.

Most of all I would like to thank you, the readers of our inaugural issue.

I would be delighted to hear your comments or suggestions and I encourage you to write to us if you have any views or opinions on the stories in this issue. Controversy is always encouraged and the best letters we receive will be published in our regular letters section, Inbox. Letters to the editor should be sent to editorial@indilaw.com.

We look forward to hearing from you and to serving you.

Enjoy the magazine.

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James Burden
Publisher
jburden@indilaw.com