Dear Madam,
I read with interest the coverage of Indian law firms opening offices overseas in your article titled Venturing out (IBLJ, volume 2, issue 6).
It is gratifying to see Indian law firms finally being acknowledged as true global players based on their foray into international markets.
India has been the destination of choice for most international businesses ever since it opened its doors to liberalization in 1991.
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Thus, there would seem little reason for most Indian law firms to venture beyond their national boundaries. With international clients flowing into the country faster than the legal market could serve them, most Indian law firms seemed content to stay put and churn out the goods.
So what has changed? I agree with the many reasons cited in your article.
As one of the first Indian law firms to have a fully fledged London office (it opened in 2000), ALMT Legal saw the niche in the market early on, as well as the benefits that ensue to clients and UK-based law firms that need Indian advisers locally.
As India’s legal market gains traction with younger, professionally run law firms sprouting roots, the move out of India has become a natural step for entrepreneurial young lawyers.
Good returns on the back of a strong Indian economy have also made the level of investment needed for overseas expansion possible for firms that would not otherwise have been able to afford it.
As businesses go international, cross-cultural understanding and integration between clients and advisers becomes all the more important.
The move by law firms to establish overseas offices brings their operations closer to this goal of bridging the cultural gap and servicing clients’ requirements swiftly, efficiently and capably.
With Indian law firms venturing overseas, courting and being courted by international law firms, it seems just a matter of time before Indian law firms will become truly international, leaping well beyond their Indian roots.
And with every business with international interests wanting a piece of the Indian action, why should international law firms be any different?
Shalini Agarwal
Co-founding Partner
ALMT Legal
London
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