Corporate law firms and their clients in India and overseas may soon witness the beginning of a new era in legal services
There is growing momentum behind moves to open India’s legal market to foreign law firms. The debate is moving from “if” to “how”, “what” and “when”. The answers to these questions will shape India’s future legal landscape and determine the success or failure of this fundamental step. Previous efforts in the early 1990s ended inconclusively.
India Business Law Journal
The goals are clear: For Indian and multinational corporations to have the best access to the legal services they need to grow their businesses and for India’s legal profession to develop and mature with the country’s economy rather than being smothered by foreign competition.
However the implementation raises many questions. Balancing safeguards with opportunities and establishing a regulatory framework neither too restrictive nor too permissive will not be easy.
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