Indian Law Firms Are Better Known for Their Market Standing in Specific Functional Areas Such as Banking, M&A, Corporate, Commercial and Project Finance – Indian Legal Services Market: An Analysis 2006
DUBLIN, Ireland–LAWFUEL – Law News Network –Research and Markets (http://www.researchandmarkets.com/reports/c49243) has announced the addition of Indian Legal Services Market: An Analysis to their offering.
This report analyzes the legal services market in India within the PEST and Porter frameworks and highlights the issues and growth drivers of this market. It also studies the major regional markets and profiles the major players in the market. Further, the report identifies the trends and growth opportunities in the industry. It also covers important segments of the industry and analyzes market dynamics.
Majority of Indian lawyers have small domestic practices. This is in accordance with the Indian law under which law firms cannot have more than 20 partners, nor can they advertise their services.
1.2 Industry Segments
2. Market Dynamics
3. PEST Analysis
4. Porters Five Forces Analysis
5. Competitive Landscape
Appendix 1: International Conferences and Annual Meetings
Appendix 2: Industry Associations and Organizations
National Legal Services Authority
Bar Council of India
Bar Association of India
Tab 6.1 Leading law firms in India 2005
Fig 1.1 Industry segments
Global spending on legal services in 2004 was estimated to be over US$250 billion, with the US accounting for more than two-thirds of the market. A significant portion of this market is likely to be outsourced to fast-growing economies like India.
The Indian legal services market, in spite of the country’s accession to the World Trade Organization, remains closed to foreign players. Foreign law firms are not allowed to open offices in India and, under the Indian Advocates Act of 1961. They are also prohibited from giving any legal advice that could constitute practising Indian law.
Only a few Indian Legal firms have the expertise to handle commercial work for multinationals. A vast majority of Indian lawyers do litigation in small domestic practices.
The Indian legal BPO sector is at a nascent stage and its potential remains largely untapped.
Some of the issues facing the industry include:
– Controversies in Legal Services Sector Liberalization
– Lack of Expertise on Laws Pertaining to International Affairs
– Uncertainty about the Role of International Law Firms in India
– Setting up of a Regulatory Framework for Foreign Legal Firms
– Slow Court System
– Increasing Regional Competition
– Amarchand Mangaldas
– AZB & Partners
– Nishith Desai Associates
– Little & Co.
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