Indian market not fully matured

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Dear Editor

I refer to your article on the possible opening up of the Indian legal market (in the December 2014/January 2015 issue). On the question of whether the Indian legal market is ready for foreign law firms, I would say that different law firms are positioned differently for the market to open up. The structure of an Indian law firm will determine readiness.

What is clear is that our legal market has come a long way since the liberalization of the economy in the 1990s and today it stands as a professional and dynamic market. It can be argued that the entry of foreign law firms would have the same effect that liberalization had on other sectors in India – it enhanced competitiveness, ensured better quality of services and more opportunities for all stakeholders.

With regard to the comment by an in-house counsel that there is “no comparison” between the quality of a foreign firm’s service and what an Indian firm provides, I would say that it’s unfair to generalize all the Indian firms under the same category.

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