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India: open for business

Opening up of Indian legal sector Your articles come in as a breath of fresh air as compared to the largely vitriolic outbursts of other interested parties. Its surprising that the people who are opposing the move do not credit the wisdom of the readers to figure out the real reasons for their opposition. With the Indian economy booming, too much monetary interest is at stake and it looks like the interested parties have successfully lobbied at all levels to ensure a delay in the opening up of the sector. Who stands to loose? The young Indian lawyers who will be deprived of opportunity to get the right training and Indian corporate sector who will have to end up paying foreign exchange to get legal services abroad for large and/ or international deals (since they will not perceive Indian lawyers to have the necessary skill sets or experience). In the long term it is most beneficial for the Indian economy to have world class Indian lawyers, sitting in India and giving competition to the foreign lawyers. This is possible only if India gets exposed to the international best practices.

14-Nov-2007

5:16 am