As India booms, foreign law firms wait impatiently for a share of the spoils. Prohibited from entering the market, they stalk from afar. How will they pounce when the prey is in range?
By George W Russell in Bangalore
With faint echoes of China’s opening up to the world in the 1980s, international businesses are rushing to devise strategies to access the market in India, an emerging economy of more than 1 billion people. Multinational corporations in Asia, Europe and North America are turning to global law firms to unravel the bureaucratic knots and ensure they can successfully enter, operate, grow and profit.
China’s opening meant an entirely new legal landscape had to be constructed. Despite Beijing’s authoritarian rule and a lack of a legal framework, China’s startling economic growth prompted an influx of international law firms.
Not all survived, but a substantial number of them continue to operate profitably today alongside newer expansionary local firms with growing global reputations, such as Fangda Partners, Jun He Law Offices and King & Wood.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
