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Insights into the Indian Legal Market

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India, the world’s second-largest country in terms of population, and the third fastest-growing emerging nation, occupies a significant position in the Asian economy. A demographic explosion in the post-war years (catapulting the country’s population to over 1.3 billion people), a burgeoning middle class and an ambitious government led by Narendra Modi have done much to promote India’s appeal to domestic and international corporations. The country’s legal market remains the preserve of domestic full-service firms, many of which operate on a traditional, family-run model. Protective legislation is also in place to bar entry to foreign law firms. The restricted legal market remains a divisive issue with government officials, clients and lawyers seeking to open up the market to foreign competition. In late 2016, Who’s Who Legal travelled to India to meet some of the country’s leading lawyers and discuss developments in the Indian market.

Indian Law Firms: Overview

May 2015 saw India’s “Big Six” firms become seven leading players. The dissolution of the largest and most prestigious law firm, Amarchand Mangaldas Suresh A Shroff (AMSS), into two constituent elements – Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas – has had little effect on their fortunes, and both new firms occupy a leading position in the market, although the gap with their traditional competitors has narrowed. As the legal market is still closed to international players, domestic firms with national coverage dominate the landscape. This looks set to continue for some time as they continue to grow in both stature and expertise. Here we explore the leading firms in India.

Competition - Future Leaders 2017: Non-Partners Analysis

In this chapter, 207 impressive non-partners are identified from 105 different firms across 43 different countries. Below we highlight the leaders in each jurisdiction. 

Competition - Future Leaders 2017: Barristers Analysis

We highlight 14 barristers from five different chambers in England for their outstanding contribution to this field.

Competition - Future Leaders 2017: Economists Analysis

This year we identify 75 competition economists from over 20 firms and institutions across 17 countries. The featured economists are considered future leaders in the space. They are highlighted for their provision of expert advice and testimony in complex antitrust matters.

M&A and Governance 2017: Analysis

Our largest ever survey of the corporate transactional world has yielded a total of 1,407 lawyers around the world from 459 firms in 85 countries. The practitioners listed are known for their outstanding abilities assisting clients with the very highest-value M&A transactions, including private equity deals and joint ventures. We also highlight those lawyers who excel at advising clients on the day-to-day running of their businesses – experts in shareholder issues, directors’ duties and other aspects of company law. The editorial below highlights the standout attorneys from around the world.

M&A and Governance 2017: Due Diligence Accountants Analysis

For the third year running we are delighted to present our comprehensive analysis of the world’s leading due diligence accountants, highlighting 230 prominent names from 50 firms across 48 jurisdictions. The Big Four accounting firms – PricewaterhouseCoopers, KPMG, EY and Deloitte – once again dominate the research, comprising almost three-quarters of the total listings between them. Meanwhile we also highlight smaller outfits who are home to some of the foremost names in the field. 

M&A and Governance 2017: Trends and Conclusions

Throughout the world 2016 was a significant year: political upheaval and economic uncertainty were at the forefront of our respondents’ minds during our research, as the US elections and Brexit caused some concerns about deal activity. Although most were positive about the current and future states of the market, some regional and sector-specific concerns were noted. However, overall the legal market remains strong and the concept of a “non-busy M&A lawyer” continues to be somewhat oxymoronic.

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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

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W11 1QQ, UK