India Business Law Journal celebrates a glittering year of achievements and the outstanding Indian law firms that made them possible. Vandana Chatlani reports
Fluctuations in the Indian stock markets, the crippling effect of the euro crisis, and the implementation of new legislation has kept lawyers on their toes over the past 12 months. India’s legal professionals struck deals under difficult and demanding conditions and there’s no sign that 2012 will be any easier. Indeed, lawyers are sharpening their tools and bulking up weaker areas of their practices to give clients greater comfort at a time when the global economy is still sagging – threatened further by Europe’s collapse.
Today’s lawyers must endeavour to fulfil the needs of the hour. Companies are demanding a new level of restructuring expertise, so as to dispense with failing businesses, secure exits from fracturing ventures and focus on core competencies. Firms are also answering tax calls, setting up new practice areas and hiring specialists to complement existing knowledge.