Mr Quinn your visit to India coincides with the Bar Council of India’s recently framed rules that allow foreign firms and foreign lawyers to set up shop in India. This seems like a nice surprise.
It was a nice surprise. It certainly gave us a lot to talk about when we got here because the whole legal profession is buzzing about this development.
What do you make of this development? Do you see it raising the level of service? Those opposing it say that there’s no level playing field. What in your view would be the impact of this change and what’s in it for Indian law firms and Indian lawyers?
I think it has the potential to be very positive. It’s not that foreign firms are coming here and will take business or will dominate the market. There’s a lot for the foreign firms to learn about doing business or practising law in this region. When Japan first opened up its legal industry, there was a huge hue and cry among the large Japanese law firms that it would decimate their business and the foreign firms would take over. But that has not happened. The market in Tokyo is still dominated by the same Japanese firms and some other Japanese firms have emerged too.
So I don’t think this necessarily means a loss of market share for Indian firms. There will be a cross pollination and sharing of best practices which could potentially raise the level of practice for everyone and make this a more hospitable environment for investment in general. So I think this (the rule allowing foreign firms to practice in India) has the potential of being very positive.
This story is from the 22 April 2023 edition of Business World India.
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This story is from the 22 April 2023 edition of Business World India.
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