Do We Need Foreign Law Firms? My Answer Is Not 100% But 200%
In an interview of Paul Jenkins, CEO of Ashurst, on why international law firms are still hesitant to enter India, thanks Maulik Vyas, The Economic Times.
What struck me was the candour.
He wasn’t dismissive of India.
He was practical.
His message was simple:
- India is strategically important
- Clients want India
- Talent is strong
- But regulatory clarity and certainty are still missing
- And global firms will not rush blindly, they will wait for stable, predictable rules
Fair enough.
But here’s the harder question we must ask ourselves:
Do we even need foreign law firms?
My answer is not 100%.
It is 200%.
Because while majority of Indian firms have grown in size and reputation, we must honestly admit we are still grappling with basic structural issues:
- inconsistent quality
- weak management and processes
- zero global integration
- slow adoption of technology
- lack of talent development
Meanwhile India is exploding with opportunity:
- 3.5+ crore pending cases
- largest pool of Unicorns and Startups
- almost every global MNC present here
- Indian companies expanding overseas
- cross-border M&A, PE, disputes, compliance growing daily
How can we handle all this alone?
If India wants to grow at 8 to 10% for the next 25 years, we cannot operate like a closed ecosystem.
We need international consultants, global capital, and yes, global law firms.
Instead of debating entry versus no entry, the smarter question is:
How fast can we integrate with the world?
My unsolicited suggestion to foreign law firms, even before full entry is permitted, you don’t have to wait. Start now.
- Engage deeply with Indian Law Firms for cross-border matters
- Run knowledge sessions, webinars, and training on global best practices, AI, compliance, investigations, arbitrations and mediations
- Build India desks, secondments, and client advisory hubs focused on outbound and inbound deals
Create value first. Entry will follow naturally.
If India truly wants to be a global economic powerhouse, our legal ecosystem must also become global.
The future of law in India is not local versus foreign.
It is local plus global.
And the sooner we accept this, the faster we grow.