India Business Law Journal reveals the top international law firms keeping India’s cross-border deals on course
A sense of lethargy is dominating India’s economic activity. Interest in deal making from domestic and international companies has faded and policy stagnation continues to threaten deals of all sizes. Of particular concern to foreign companies are changes introduced by India’s Finance Acts of 2012 and 2013 and the proposed Direct Tax Code, in which many shades of grey exist. Other anxieties stem from the high cost of fundraising in India, political inconsistencies in the economic reform process, the time required to obtain judicial decisions, and difficulties in enforcing arbitral awards in India.
Corruption is another worry, not just for international companies operating in India, but equally for Indian businesses venturing outside of the country. International law firms are working to educate clients about provisions of the UK Bribery Act 2010, the US Foreign Corrupt Practices Act and similar legislation in other jurisdictions. Indian companies are increasingly looking to foreign firms for assistance with legal intelligence in relation to new and proposed laws and regulations and other changes.