India May Open Up To Foreign Law Firms
By: Ainsley Brown
The Indian Justice Minister, HR Bhardwaj, has told Bloomberg that the government is currently circulating draft regulations that will allow foreign law firms to set up shop in India.
With growth rates averaging 9% over the past three years India is no doubt an attractive place to invest for any business – law firms included.
Unfortunately, foreign law lawyers due to a 1995 Indian High Court ruling have been barred from practicing in the country. This has restricted foreign law firms to only giving advice on Indian matters from overseas or entering into alliances with domestic Indian law firms.
Given the high level of protectionism pervasive in the Indian legal community, the Indian government is understandably cautious. Additionally, given the close relationship with the government and influence in the general electorate, the government is unlikely to make any moves, if any, towards liberalization until elections later is year – presuming of course it is re-elected.
None the less it is a very positive sign towards liberalizing the Indian legal market.
