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Modi gov’t pushes for opening of Indian corporate law to foreign firms, in talks to BCI

The Narendra Modi-led government has initiated talks with the Bar Council of India (BCI) to open up the Indian legal market to foreign law firms, reported the PTI, because it would assist in the government’s policy to increase the “ease of doing business” in India.

BCI chairman Manan Kumar Mishra said that he had been holding “informal talks” with law minister DV Sadananda Gowda, with further talks between BCI and law secretary PK Malhotra to be held in the coming days.

The government also hopes that if foreign law firms open offices here, they would hire local lawyers to appear in courts and that they would give the government access to international legal experts to assist in arbitrations, according to PTI.

Society of Indian Law Firms (SILF) president Lalit Bhasin has since December 2014 abandoned the law firm lobby group’s long-standing absolute opposition to foreign law firms, arguing for a roadmap of at least five years for the phased entry of foreign firms.

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