The legal services market in India - bird's eye view
Here is a very interesting article providing a kind of anatomy of the Indian legal services market, ad touching upon the major players, changes, and the nature of the legal work performed there. The article notes that India is in a state of flux, with outbound investment rapidly growing while foreign investment flows into India have remained largely static.
The increase in capital flows is of great interest to lawyers but at this stage, says the article, the prospect of Indian firms opening offices in other countries still seems a lot more likely than the prospect of ¬international firms opening offices in India. UK Secretary of State for Justice Ken Clarke again raised the question of liberalisation on a visit to India in September, but restrictions on international law firms and foreign lawyers remain.
The article surveys the major relationships between Indian and foreign firms, charting the recent demise of the alliance between Clifford Chance and AZB & Partners and that between ALMT and Clydes, as well as the success of the link between Allen & Overy and Trilegal and that between Linklaters and Talwar Thakore & Associates.
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