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Law firms plan fee hikes to retain talent amid 'foreign entry'

Worried about star performers being poached

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Illustration: Ajay Mohanty

3 min read Last Updated : Mar 22 2023 | 11:34 PM IST

The Centre’s decision to allow foreign law firms to establish offices in the country is set to shake up its legal services industry, with local firms fretting star performers could soon be poached and predicting that fees will shoot higher to retain them.

As of March 10, foreign law firms can now set up shop in India to offer M&A and corporate advisory services as well as to handle arbitration disputes for foreign clients.

India had some $50 billion in cross-border deals last year while corporate arbitration cases and other legal disputes have continued to grow, making the South Asian

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Law foreign law firms Law firms Bar Council of India Lawyers legal services

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