India’s decision to allow foreign lawyers to operate in the local market will boost competition and fees, according to the managing partner at one of the nation’s biggest law firms.
Reversing a decades-long stance, the Bar Council of India this week permitted firms from certain countries to register in India, open offices and advise local clients on international law in non-litigious matters.
Cyril Shroff of Mumbai-based Cyril Amarchand Mangaldas likened the move to throwing a big stone in a pond. “It causes ripples but the pond will calm down soon,” he said in a phone interview Wednesday.
Does the move