The article In a pickle in your April issue, concerning the development of India law practices by London law firms, was excellent, and timely. The global recession has to some extent masked the scale of the opportunities for law firms for India-related work. However, as we emerge from what has been something of a slowdown in activity generally, the pace has picked up dramatically and firms are refocusing and gearing up on their India strategies.
It is also clear that US firms are now executing plans to develop India practices. Your article correctly identifies that US law firms have generally been more inward looking and opportunistic in their capture of India-related work. This has now changed and US firms are investing in this area significantly.
Your article also correctly identifies London as a – or perhaps the – key financial and legal centre for India-related inbound and outbound investment work. I would certainly endorse this view, particularly for mergers and acquisitions work, and the reasons for this are clear. US law firms recognize this. And it applies not only to India, but to most emerging economies, China included.
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