The law education segment presents a big opportunity as the country is short of approximately 2.5 lakh lawyers. There are over 32 million cases pending in various courts of India.
India is becoming an attractive market for legal process outsourcing. The market, estimated at $400 million in 2010, is expected to reach $2.4 billion by 2012. Employment in the segment is projected to grow to over 80,000 by 2015.
At present there are about 11 lakh registered advocates and 1,000 law schools with 5 lakh students. About 60,000 graduates join the profession every year. Still we are short of quality institutes as the combined annual intake of the top 10 law schools (including National Law School of India University, Bangalore; Nalsar Law University, Hyderabad; Faculty of Law, Delhi; and so on) is just 5,500.
Key challenges in this segment include: unattractiveness of the profession; shortage of quality faculty; lack of relevant skills training; and continuous professional development of lawyers.
Overall, there are good opportunities for private law colleges to come up and provide world class law education.
