Indian legal market a step closer to opening up
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Following two decades of stalled initiatives, India is a step closer to liberalising its legal services market following a change in the position of the country’s bar council the Law Society Gazette reports.
A source close to the negotiations said the talks have gone from “theoretical to more detailed”.
The news came as Indian Prime Minister Narendra Modi visited the UK.
The Bar Council of India, the Bar Council of England and Wales and theLaw Society are drawing up the memorandum of understanding.
Head of city and international at the Law Society, Stephen Denyer, said it was a “very significant step” towards liberalisation of the Indian market.
Mr Denyer added there was “a lot of optimism” that a satisfactory memorandum could be agreed in the coming months, adding that there is a “strong commitment on both sides to proceed in this direction.”
India’s secretary at the Ministry of Law and Justice, PK Malhotra, suggested at an event at Chancery Lane that liberalisation is likely to happen but that “certain issues” need to be resolved.
Mr Malhotra said: “We have been working on this since 1992. But I think now a stage has come where there is a consensus across all participants. There is no way we can look back. We have to look forward.”
He added: “It may be a question of a few days or a few months but I can’t make any commitment.
“The Indian bar council is now on board but they have to get the confidence of their own counterparts. This may take some time.”
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