Is the Indian Lawyer afraid of competition? Foreign Lawyers - Welcome
While MNCs have walked into all spheres of economic activity, the hallowed portals of our Bars have been closed for foreigners. But how long can you really stop them?
The government will soon be permitting foreign law firms to set up their offices in India in close collaboration with their domestic partners. This will lead to healthier competition, according to Law Minister H R Bhardwaj.
Advanced law institutions would be set up in India in collaboration with the best global legal institutes in UK and USA with world class faculties that can teach a combination of economics and law that will teach legal aspirants to write bilateral agreements in a manner that can resolve disputes amicably and professionally. The country, he said, is paying foreign law firms to avail of legal services. "In Enron case, I paid Rs 100 crore (to overseas law firms)," Bhardwaj said, referring to the arbitration proceedings by foreign lenders to the Dabhol power project.