Clydes targets Indian market with local firm alliance

The news comes just months after Clydes formed an alliance with Islamic finance specialist Abdulaziz Al Bosaily in Saudi Arabia (6 April).

ALMT has offices in Mumbai and Bangalore and a number of affiliate offices throughout India. It also has a London office, which is staffed by Indian-qualified lawyers who advise on India-related legal matters.

Under the terms of the alliance the two firms will exchange information and put in place joint training programmes. Clydes said it would also put in place a secondment scheme between the two firms.

ALMT partners, including the two UK-based lawyers, will be made available to work alongside Clydes partners on joint projects in a range of sectors including transport, insurance, and foreign direct investment.

Clydes chief executive Peter Hasson (pictured) said: “We’ve found a business partner in India with a similar vision to our own, with whom we can cooperate.  Critical to this is that we have confidence in the people and share a similar vision and outlook.

“This association will facilitate some ALMT lawyers joining Clyde & Co.”

The London headquartered firm has set its sights on becoming a market leader in the emerging economies and, said Hasson, this would be impossible without an Indian affiliation.

In a statement ALMT said the association would give the firm’s clients access to international legal advice.

Under current Indian regulations international firms are prohibited from setting up standalone businesses. As a result a number of City firms have opted to form alliances with Indian firms. Most recently Clifford Chance signed a best friends agreement with AZB & Partners (14 January).