The Indian legal market - problems and prospects
Kanga & Co partner Preeti Mehta, Ashurst India practice head Richard Gubbins and UK India Business Council chief executive Richard Heald.
Richard Gubbins predicted that, over the next five to 10 years, foreign firms will work more closely with local to transfer the expertise and technology needed on cross-border deals. “It’s only by sharing experiences that you’ll be able to grow together,” he said.
Other issues raised were the comparisons between local and international firms in terms of experience and cost, the difficulties of enforcing Indian court orders in a difficult dispute resolution system.
Despite the hurdles, business investment continues to flow into India – one of the worlld’s fastest growing economies. As Gubbins puts it: “Can you afford not to do business in India?”.