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Indian law firms enjoying boost in trade

Posted by: Laurence Simons 25/04/13

India's legal sector has continued to enjoy a boost in reputation, with the news that a rise in litigation and arbitration has helped Indian law firms recover from lower levels of merger and acquisition deals, private equity and capital markets work.

The Economic Times reports that London-based legal research firm RSG Consulting believes the boost could be helping boutique firms perform better and hire new staff.

Abhijit Joshi, senior partner and chief executive officer of AZB & Partners, commented: "The flip side of adversity is opportunity. When economic down cycle slows transactional activities, opportunities to grow other areas like anti-trust, litigation and franchising arise and we have tried to sieze those very opportunities."

The ongoing flatness in economic growth in more traditional markets means that emerging countries such as India have assumed an important position in the legal world, with multinational corporations scrabbling to get a foothold in the country.

This was highlighted by Laurence Simons' 2012 market report, which noted that lawyers with compliance experience are in strong demand in what is a thriving industry in India. Competitiveness is also growing, with bonuses central to the decisions made by potential hires - 72 per cent of lawyers received a bonus over the course of the year.