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The only few firms having dedicated corporate law teams are Khaitan & Co., Fox & Mondal, Argus Partners (as far as I know). Few other firms like Kini and Sinha are not purely involved into corporate practice. What they do is a mixture of litigation and corporate practice i.e., NCLT matters.
Why there is such a gap in the legal market of Kolkata? Why are firms not indulging in corporate practice like GC, M&A, IBC, TMT, IPR etc. Also, another evident phenomenon being the T1s opening their shops in every metro city in India, except for Kolkata. T1s, T2, and even some T3s are expanding into cities like Ahmedabad, Lucknow but not in Kolkata.
What is wrong with Kolkata? What's happening here? Why does it seems like the legal giants are actively avoiding the only metro city of East India?
Unfortunately, the situation in Bengal is beyond repair now, the only other option seems to be BJP bur the people at the top of Bengal BJP are equally corrupt and bad. So, yeah corporate work will not flourish in Bengal anytime soon. That's the sad reality my friend.
It seems that this is it. This is the reality of Kolkata and it's future. I am very sad that I will have to eventually leave my city due to such poor conditions that are becoming worse with each passing year. I just wish somehow, someday, I get to know that Kolkata is back on it's feet so that I can return to my home peacefully.......
If you really want to stay in Kolkata, you can make that happen. The world has progressed a lot lately. I currently have a remote job which allows me to work on good legal matters with top notch clients, while enjoying the luxury and low cost of living at home. Won’t reveal much details, but I’ll say this…
If you’re still in college, you must be dazzled by the glamour of some firms based in Delhi/ Mumbai. It’s not your fault. They have specifically marketed themselves to build that image in young impressionable minds. But these are not the only options to have a good legal career.
There are more options out there than you are aware of. Seek, and you shall find.
Vote for BJP if you want law firms because first it requires investment in the state
Even I am planning to settle in Gujrat once I get some foothold in the Corp Law domain!
So, go out and work for yourselves.
UP has even fewer law firm work than WB, even with its 60 years of decline. Gujarat, sure - GIFT City is all the rage, but genuine question again: how big is the GIFT City uptake from foreign companies, compared to other SEZs?
1. partition of Bengal in 1947, which led to the loss of hinterland of East Bengal which provided various raw materials (not just jute) to the industrial complexes near Kolkata.
2. The freight policies of Central government in mid to late 1950s which led to the start of industrial base shifting to Western India. The shift to South India actually happened post liberalisation from 1992/3 onwards.
3. influx of refugees from Est Bengal from 1947 onwards led to rise of millitant trade unionism frm mid 1950s when the capital slowly started to shift to Mumbai. Many blame left front govt which took power in 1977 to the capital flight but if you look at the GDP data you will find that from 1955 onwards WB was on a terminal decline, one of the chief ministers Bidhan R decided to arrest this by creation of industrial cities (what Germany tried post WWII) however it was unable to produce sufficient employment opportunities. The huge unlettered workforce from the jute mills in Hoogly could not trabsfer to the steel mills of Durgapur.
4. the naxalism scare from 1971 onwards in kolkata was the final nail, it kind of led to a police state for 3-4 years in WB and whatever large capital was left in WB fled. After 1976 only large capital left in WB was the PSUs.
5. there has always been an indolent clerk culture in 70% of the population, there is a distinct lack of ambition, you can blame it on various socio-political-religious factors (some blame it on the easy availability of resources which does not force the populace especially the middle class to be adventurous).
have many more factors but too lazy to write and hence proven. Have a read of https://theprint.in/india/from-party-society-to-bahubali-society-how-bengal-changed-yet-remained-same-from-left-to-tmc-rule/2017839/ to understand what has become of WB
Then Bengalis decided to vote for anti industry parties.
First communists and then for worse TMC.
I know what are the reasons of the lack of Corp Law Firms in Kolkata. I just wanted to check if I've got it wrong in any way. Well who cares, I myself is soon goin to switch in Delhi NCR as I've got T1 confirmations. The only unfortunate thing that makes my heart ache is the fact that I won't be able to make living if I stay in my home state and neither I see things changing any time soon!