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Harish Salve: Entry of foreign lawyers will make Indian lawyers better, only some domestic firms oppose

Harish Salve tweeted today at @hsalve on the issue of the foreign law firms, which prime minister Narendra Modi had recently come out in support of, saying:

Entry of foreign law firms will result in young Indian lawyers being hired and trained to global standards. No foreign lawyer can or will practice Indian law. The only affected persons would be some domestic law firms. They sign “best friend” arrangements but oppose their entry.

Only that global arbitration is a distant dream. Weak infrastructure. Worse- Indian courts are over intrusive. Latest SC judgment makes arbitration a first step in a long litigation. ADR in India is not alternate disputed resolution but additional step in dispute resolution.

Foreign firms are NOT interested in litigation - the bread and butter of 90% of Indian lawyers. They are here for transaction work.

They will provide competition to a handful of big firms in Delhi, Mumbai etc.

Trilegal co-founding partner Akshay Jaitly responded to Salve @AkshayJaitly:

Actually sir, some of us who have had best friend arrangements (@TrilegalLaw) have supported their entry for years.

Earlier today, Jaitly tweeted in another conversation about the long delays in the road to liberalisation, that he had “joined Ashurst 20 years ago on the basis that the market was ‘just going to open up’.”

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