Legal services market in India is witnessing some significant changes, finds Netscribes

// 09.02.2010

Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announces the launch of its Legal Services Market in India 2010 report covering an industry which is expected to witness strong growth. The increase in demand for corporate lawyers has led to a growing interest from foreign entities. Domestic law firms are also focusing on international deals and having pan-India presence.

The report begins with an introduction to the legal services market covering the structure of the Indian legal system. The overview section indicates the market size and the various types of legal services, dominated by litigation. This is followed by information regarding the various set up models adopted by law firms and the parameters upon which the firms base their decisions.

The various government bodies, in this space, have been analyzed including the Bar Council of India and the State Bar Council of India. It includes a description of their role as regulators in the Indian legal system. This also includes a discussion of the various restrictions and taxes imposed on players in this sector.

The current trends in the market have been discussed and include growing interest among the foreign firms to enter India, major law firms moving towards consolidation, increasing in number of corporate deals, increase in demand for corporate lawyers and the growth in legal process outsourcing. Major issues in the market can be summarized as the controversies around liberalization of legal services sector, uncertainty about role of international firms and the slow judicial system.

The competition section highlights the major players including their financial position, business focus and expansion plans.