India’s shuttered legal market spurs the separation of yet another law firm pairing, amid changing ambitions and new beginnings
Akira Kawamura, president of the International Bar Association, said recently that “opening a legal market fully to the world works to the great benefit of all of the stakeholders, provided the change is introduced in an extremely carefully planned way.”
Kawamura’s comments were shared in a report by YouGov, an independent market research agency that was commissioned by Allen & Overy to canvass the views of 300 of India’s senior lawyers, corporate counsel and business executives on liberalizing the country’s legal market. The results, which were published at the end of June, paint a picture of an India ready to embrace international lawyers and collaborate with them on home turf.
Despite this, India appears no closer to lifting its ban on foreign lawyers. The distant dream of liberalization is one that Allen & Overy and its Indian best friend, Trilegal, had clung to during their five-year relationship, which ended late last month.
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