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Top Indian corporates to spend $0.5bn on lawyers, says report


The top 100 Indian companies are set to spend an estimated $479m (Rs 2,200 crores) in legal fees of which half will be billed by foreign firms, predicts an analyst report on the Indian legal market.

The Tata Group's estimated legal spend topped the list with around $50m in annual fees, followed by Essar Group with $15m and Wipro with $12m, states the report by UK legal consultancy RSG Consulting.

According to the report's estimates of rising in-house legal spend, the Indian legal market spend will reach $1bn in three years, with 82 per cent out of 60 companies expecting an increase in legal spend in the next five years.

Out of the other companies surveyed, M&M has an estimated $5m legal spend, ICICI Bank $3m, ADAG $9m, WNS Holdings and Gammon India at $1m each, and IL&FS and 3i Infotech at $0.5m each.

The report also stated that the majority of Indian law firms planned 300 to 500 per cent growth over the coming three to five years.

The total global legal market is estimated to be worth around $250bn.

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