Asia-Pacific 2016 Guide Launch
Mumbai, Febuary 2016
In February, Asia-Pacific Editor Shi-Ning Koay and Deputy Editor Sarah Kogan visited Mumbai, where they hosted the Chambers Asia-Pacific 2016 Editors’ Reception, celebrating the launch of the new guide. The event took place at the InterContinental Hotel, and was attended by a wide range of international and Indian lawyers, business development professionals, clients and press.
The trip provided an invaluable opportunity for the editorial team to deepen its relationship with local lawyers and business development professionals, and to probe current market sentiment on the ground in India.
Major reform in the Indian Legal Market
Shi-Ning and Sarah met with numerous firms during their packed schedule, among them Trilegal, Khaitan & Co, Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, Wadia Ghandy, Economic Laws Practice and AZB. These discussions served to highlight the current very exciting period in the Indian legal market, with major reform occurring in both the sector itself and the wider economy.
New government legislation envokes optimisim amongst law firms
During the visit many firms took the opportunity to share their viewpoints on the rollout of new government legislation designed to boost the ease of doing business. Areas of discussion ranged from the issuance of new licenses in the banking sector, to the increases to the FDI limit in the insurance and defence sectors, through to the reform of arbitration law and the upcoming changes to Goods and Services Tax (GST). While global economic waters have created some headwinds, there is nevertheless a palpable sense of optimism and excitement about the future.
Big changes ahead
Amongst the hot topics discussed, the team noted a widespread interest in the booming start-ups market, especially in the fast developing technology and life sciences sectors. Many firms were also keen to highlight their increasingly specialised offerings in niche areas such as anti-corruption/FCPA and private client work.
These developments take place at a cross-roads for the Indian legal community, with many Indian firms looking ahead to the future liberalisation of the profession, including the likely entrance of foreign law firms. With further developments expected to be announced this year, the research team will be watching closely to see how the dynamics of the legal market may change in the coming years.
Chambers Asia-Pacific 2016 Editors' Reception, Mumbai