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Indian Ivy League: NLSIU, NALSAR and NLUD, as demonstrated by law aspirant preference and NIRF rankings.

Magic Circle: CAM, SAM, AZB. Trilegal, JSA, Khaitan & CO, as demonstrated by perception and volume of deals done.

Would this be an accurate categorisation?
No, the only categorisation that is evident from this post is that you have got way too much free time in your hands and very little idea about the industry or academia.
I truly dont understand this absolute obsession with elitism and rankings. Who tf cares lol. All these idiotic distinctions. Moulding your whole sense of self worth around it if you get in, and being completely miserable if you dont. What a pathetic way to live. Thr truth is something that takes up 5 years of your life can be arranged neatly in a hierarchy. Each college is different and offers a different experience. Ranking is helpful for students giving CLAT to make a reasoned decision, but when I see grown ass adults talking about iVy LeAgUe of InDiA its just so pathetic lol. Move on with your life, all this is a social construct. What a bunch of sheep.
NLS, NALSAR and SAM, CAM, AZB at the very least. Although we are far from true ivy leagues and magic circle firms.
Indian Magic Circle: CAM, SAM, AZB, Trilegal, KCO

Indian Silver Circle: JSA, Indus, S&R, Luthra, NDA

Indian Ivy League: IIT, IIM, AIIMS, NLSIU (only 1 NLU)
KCO has the highest revenue by far, should be the prima donna. Rest of these firms are slowly withering away - look forward.
Ivy League: NLSIU, NALSAR, NLUD, with GNLU as a possible entrant in the next 5 to 10 years.
No such equivalent cause NLSIU , NALSAR , NLU delhi etc are no where near prestigious as Yale Law , HLS , Stanford law , Berkeley , Upenn etc .
Even within these, Harvard, Yale and Berkeley are hyper-elite. Stanford is good but only for IP law. UPenn is great but nowhere near as great as the other three.
Since when is NLU D considered Indian Ivy league? NIRF and QS rankings are the biggest joke in the world.
no. none of these places are "equivalents" in any real way. Not in the kind of teaching/ learning or the quality of work or complexity of transactions that goes on. they might be a sight better than other indian schools and firms- but theyre not the equivalent of ivy leagues or magic circle law firms.