Accessibility Links

India: could be more liberal, but then maybe not

Posted by: Laurence Simons 31/07/12

You want exclusive, you want cool: get thee to the legal scene in India. But that could all be about to change if the results of a poll are anything to go by. And obviously the results of polls are always something to go by.

"Over 96 per cent of respondents believe the Indian legal market should be liberalised," said the Economic Times of India. According to a YouGov study, liberalisation - that is, opening up the market to foreign firms and creating legal jobs requiring international expertise - would be best for both clients and companies. And seeing as they asked more than 300 (exact number: 301) stakeholders at India's Top 50 law firms to get to that conclusion, it's a pretty hot ticket point.

"As India's corporate champions continue to expand and compete globally, they see a need for greater choice of legal services at home to ensure their success overseas," said Jonathan Brayne, chair of Allen & Overy's India Group, which commissioned the poll.

All very well, all very good. But should the Indian market open itself up for rapid global-focussed expansion, there is always the risk that the flood of young lawyers rising up from the various legal schools dotted around the country will suddenly end up too un-exotic to grab a job in a jostling international market. Can anyone say 'law school bubble'?