India’s union law minister has re-ignited debate about allowing foreign firms to establish local partnerships, and to allow local firms to reap the benefits of globalisation.
Speaking in a seminar on the Indian justice system, minister HR Bhardwaj advised that the time has come to amend the Legal Services Act while the process still rests in the hands of the Bar Council, since the WTO has the legal services industry on its agenda.
“Because the legal service is on the agenda of the WTO, you should prepare for it and their rules that will protect your interests as you have the powers,” he said to the audience in New Delhi.
The reforms would help India acquire better legal technology and reap the benefits of partnership.
“So allow them to set up office on partnership here and enjoy the fruits of litigation, and nobody will allow them to appear in Supreme Court,” he said, reassuring the crowd that their jobs would be protected.
The minister also acknowledged delays to promised reforms. The reforms went on the agenda last year, but associated talks have since been stifled.
Anand Prasad, who manages the Allen & Overy Indian partnership firm Trilegal, said that foreign partnerships can create better Indian lawyers and encouraged more investment in the legal industry.
“India presents an excellent opportunity for good lawyers. Hence, to my mind it might be better for international firms to partner with Indian firms as early as they can.”