Executive search firm EMA Partners India MD K Sudarshan said, “Given the restrictions earlier, there are only a handful of large law firms that operate in India and the rest are boutiques. A large proportion of search mandates were focused on hiring in-house general counsels. BCI’s move would now democratise the profession and open up opportunities for a two-way interplay between foreign and Indian counterparts, as it happens in other professional services firms as well. Global opportunities and expertise could be now made available locally and vice-versa. ”
Nishith Desai Associates leader (HR law) Vikram Shroff said the “much-awaited” entry of foreign lawfirms in India will provide significant opportunities to both experienced lawyers and talented students. Additionally, young students will have the ability to intern with foreign law firms in India.
Shroff said, “As a law firm, we have been global since 2000, having offices in California, New York, Munich and Singapore, and complying with their code of conduct and KYC norms. The notification clarifies that foreign law firms would have to ‘normally’ abide by the same ethical and practice standards laid down under the Advocates Act. Foreign law firms will bring along with them some of the advanced legal software, AI-enabled tools and innovative processes to assist lawyers. It will go a long way in improving the overall quality of legal services delivery and benefit our country. ”
Shroff added that India has one of the world’s largest and a highly vibrant legal community. In view of the reciprocity condition, Shroff said more nations will be keen to welcome Indian lawyers to set up office in their countries, which will also help promote the legal sector.
