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SILF prez Lalit Bhasin: Sudden entry of foreign firms would 'damage profession irretrievably'

The Business Standard today wrote a longer article with a number of law firm lawyers’ views about the entry of foreign law firms and prime minister [https://www.legallyindia.com/Law-firms/narendra-modi-speaks-for-foreign-lawyers-entry-fears-of-foreign-domination-unfounded Narendra Modi’s recent remarks on this issue.

Society of Indian Law Firms (Silf) president Lalit Bhasin said:

We have suggested a phased sequential opening of the legal services sector over a period of five to seven years. Sudden opening will damage the profession irretrievably.

Writing in the Business Standard in December 2014, Bhasin had proposed a five to seven year roadmap for the phased entry of foreign firms, after the government began making noises to move forward the liberalisation agenda much more rapidly.

Amarchand Mangaldas Mumbai partner Vandana Shroff told the paper:

I am in favour of a phased opening up of legal services... We are well-prepared to take on any competition from foreign law firms.

Verus Advocates partner Krishnayan Sen said:

The fears are not only overstated but are, at times, self-serving. If you are good in Indian law - the market is big enough for every size of law firm to grow.

Senior counsel Harish Salve and Trilegal co-founding partner Akshay Jaitly took to Twitter on Saturday, making a case for the entry of foreign law firms.

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