A Glimpse into the Future of a Liberalized Legal Landscape
India’s demographic dividend is expected to pay out over the next couple of decades, with the country expected to host the world’s largest working population by 2030. The entry of international firms will create increased demand for talent in Indian law firms, in-house legal teams, chambers and in Legal Tech. The liberalisation of the Indian legal market will create a need for smarter lawyers with excellent communication skills, high learnability and a good work ethic. There will be a premium on strong research skills, clear and simple drafting and a firm understanding of fundamental legal and commercial concepts.
Our research shows that professionals working in law firms and corporate legal departments in India primarily come from just 15 law schools in India though there are now more than 70 such institutions in the country. Many of these law schools were established after the year 2000, and have invested in quality faculty and infrastructure. Over 60,000 aspirants apply for CLAT, which is the entrance test for many of the top law schools in the country. Legal employers in India have not yet fully leveraged this spread of high-quality talent. We hope to see legal employers recruit from a wider base of law schools.
We'd love to hear your thoughts and perspectives on India's legal liberalization and its impact on the industry.
Your input is invaluable to us, and we invite you to share your point of view or experiences related to this evolving landscape. Please feel free to write back to us at [email protected]. Let's engage in a constructive dialogue and contribute to shaping the future of India's legal sector together!
Experienced Professionals - Part 1
Lawyers with cross-border deal experience and international arbitration expertise will be in high demand. There will be a premium on dual-qualified lawyers (DQLs), especially those with ILF experience. We will see movement of DQLs to ILFs looking to strengthen their…
Indian Law Firms - Part 2
We expect to see groups of partners and teams from large law firms break away to set up on their own. The goal will be to establish a reputed, high-quality law firm that is well suited to partnering with international law firms.
International Law Firms - Part 3
We are already seeing increased recruitment activity around India-oriented practices. These are primarily in the areas of M&A, Disputes and Banking & Finance, out of the UK or Asia. The demand is primarily for lateral lawyers in other international firms, who also have…
Corporate Legal Departments - Part 4
We conducted a survey with our client community for an understanding of how the entry of foreign law firms into the Indian market would affect their engagement with external legal counsel. The survey was attempted by 78 professionals, including General Counsel, Head-Legal, CFOs,…
Litigators and Chambers - Part 5
One of the stated objectives of liberalisation is to make India a preferred destination for international commercial arbitration. International lawyers are being encouraged to represent their clients in international arbitration being held in India. But the BCI Rules and…