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Indian Legal Services Market: An Analysis
Description: This report analyzes the legal services market in India within the PEST and Porter frameworks and
highlights the issues and growth drivers of this market. It also studies the major regional markets
and profiles the major players in the market. Further, the report identifies the trends and growth
opportunities in the industry. It also covers important segments of the industry and analyzes
market dynamics.
Majority of Indian lawyers have small domestic practices. This is in accordance with the Indian law
under which law firms cannot have more than 20 partners, nor can they advertise their services.
Contents: 1.2 Industry Segments
Commercial Legal Services
Criminal Legal Services
Civil Legal Services
Other General Services
2. Market Dynamics
2.1 Market Overview
The Indian legal services industry has been protected with the rights for the practice of law being
restricted to Indian nationals only. This prevents foreign lawyers and law firms from establishing
offices in India. Majority of Indian lawyers have small domestic practices. The Indian government is
presently considering foreign participation from the UK in high skill legal services such as cyber law,
anti-dumping, and investment.
The section also includes an overview of the legal services in various regional markets like Delhi,
Mumbai etc.
2.2 Trend Analysis
In-House Legal Advisory
The Indian corporates prefer in-house legal advisory as they are more economical compared to
external counsels.
Emergence of Paralegal Outsourcing
An increasing trend has been witnessed in the area of paralegal outsourcing due to cost
advantages.
Arbitration for Quick Settlements & Timely Justice
With the increasing importance of timely settlements of disputes the arbitration route is being
followed. Foreign companies prefer this route over the traditional form of dispute settlement
mechanisms.
2.3 Key Drivers
Diversification of Legal Services
With globalization, the Indian law firms are realizing the importance of providing legal services to
international areas.
Outsourcing of Legal Services and Strategic Alliances in India
Various companies in the US are outsourcing their legal work to India due to the highly qualified
legal workforce .It has opened up new avenues for the legal professionals.
2.4 Major Issues and Implications
Controversies in Legal Services Sector Liberalization
Various political parties oppose the idea of opening up the Indian legal sector to foreign players.
Lack of Expertise on Laws Pertaining to International Affairs
2. India lacks the expertise to deal with issues relating to the international affairs. Opening of the
sector is likely to bring in foreign expertise that would build up capabilities in the services relating
to foreign affairs.
Uncertainty about the Role of International Law Firms in India
International law firms are allowed to function only as liaison offices, or foreign legal consultants.
The role of these firms need to be defined to avoid confusion over their status.
Setting-up of a Regulatory Framework for Foreign Legal Firms
A regulatory body overseeing the foreign companies functioning in India is highly needed. This
body would lay the various restrictions governing the foreign law firms in India.
Slow Court System
The court system of obtaining justice is a very slow process. Foreign companies willing to enter the
Indian market have to rethink as the slow process could impact their brand image.
Increasing Regional Competition
Regional competitors like China, Korea etc are increasingly liberalizing their legal services sector
.Indian government is concerned about this issue but has not yet made any formal decision on the
liberalization of Indian legal services.
3. PEST Analysis
3.1 Political Factors
Mounting international pressure to liberalize
Accession to WTO to spur liberalization
3.2 Economic Factors
Inconsistency in Billing Rates
Strong economic growth
3.3 Social Factors
Low judge-population ratio
Rampant corruption
Availability of low-cost skilled labor driving outsourcing
3.4 Technological Factors
Use of information technology
Use of technology to speed up the legal procedure
4. Porters Five Forces Analysis
4.1 Buyer Power
Lack of Knowledge
Online Sites Empowering Clients
4.2 Supplier Power
Law Schools Fail to Supply Quality Legal Professionals
Alternative Careers Luring Away Law Graduates
4.3 Intensity of Competition
Fragmented Market
Legal Firms Competing in Niche Domains
Competitive Pricing
4.4 Threat of New Entrants
Entry of Foreign Law Firms
4.5 Threat of Substitutes
Alternate Dispute Resolution
5. Competitive Landscape
Indian law firms are better known for their market standing in specific functional areas such as
banking, M&A, corporate, commercial and project finance, instead of expertise in industry
segments—commercial, criminal and civil legal services.
3. 5.1 Banking and Finance
Firms specializing in this area are mentioned in this area. Some of them include Nishith Desai &
Associates, Amarchand Mangaldass etc.
5.2 Mergers and Acquisitions
5.3 Corporate and Commercial
5.4 Project Finance
6. Outlook
With the proposed liberalization of the legal services sector, and the removal of citizenship barriers
for foreign nationals keen to practice in India, more foreign law firms and foreign legal consultants
are expected to come to India. The Indian services sector will witness the entry of more foreign
investors and MNCs in 2006. This will increase legal expertise requirements in areas such as foreign
direct investment, intellectual property rights, infrastructure financing, human rights, environment
law and biotechnology, etc
Appendix 1: International Conferences and Annual Meetings
CLA 2006
Appendix 2: Industry Associations and Organizations
National Legal Services Authority
Bar Council of India
Bar Association of India
Tables
Tab 6.1 Leading law firms in India 2005
Figures
Fig 1.1 Industry segments
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