Critical regulatory and political issues underpinning the US and Indian economies were the focus of a high-level legal conference held at the Oberoi Hotel in New Delhi on 10 January. The event, titled Doing business in today’s economy, was hosted by the US-India Business Council in cooperation with the American Bar Association, the Practising Law Institute and the Bar Association of India.
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Attended by many distinguished participants, the conference brought together experts in policy and deal making to consider issues crucial to business transactions between the two nations. In the inaugural address, India’s law minister, HR Bhardwaj, said that despite the downturn there were still tremendous business opportunities between the two largest democratic countries in the world, and both would benefit. Bhardwaj said India would take up the issue of liberalizing its access to America’s legal framework, noting that Indian lawyers wanted easier access to US work permits and business visas.
The theme of liberalization was continued when the afternoon session was enlivened by a mock hearing on the licensing of foreign lawyers in the US, and a debate on the admission of foreign law firms to India. Taking part in the hearing, Lalit Bhasin, president of the Society of Indian Law Firms, asserted: “We are not opposed to anyone coming, but we have to ensure a level playing field and there has to be reciprocity. Any move on the part of the government of India to open the legal services sector to foreign lawyers without the full involvement of the Indian legal community and without discussions with representatives of the legal profession would be a retrograde step.”
The conference concluded with a special address by eminent jurist Fali Nariman.
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