India has allowed overseas lawyers and firms to practice foreign law and appear in international arbitrations in the country, a move that may further the nation’s efforts to attract investment.
(Bloomberg) — India has allowed overseas lawyers and firms to practice foreign law and appear in international arbitrations in the country, a move that may further the nation’s efforts to attract investment.
This relaxation is on a reciprocal basis for lawyers from jurisdictions that permit the same for Indian lawyers, such as England and Wales, according to a notification from The Bar Council of India dated Tuesday. The changes will be mutually beneficial to lawyers from India and overseas, it said.
Global companies looking to invest in India will derive more comfort if their foreign law firms are on the ground, said Akil Hirani, managing partner at Mumbai-based Majmudar & Partners.
The move marks a significant shift in the approach of the professional standards body that has for years opposed the entry of foreign lawyers. So far foreign lawyers were only allowed to ‘fly in and fly out’ to give legal advise to local clients on international legal matters, and conduct arbitrations.
The new BCI rules, which came into effect Tuesday, include allowing foreign lawyers to:
- Practice transactional work on joint ventures, mergers & acquisitions and intellectual property matters
- Appear in international arbitration cases conducted in India
It opens up “hugely exciting” possibilities, Ashok Lalwani, chair of Baker McKenzie’s Global India Group, said in a statement. The firm has around 300 lawyers in over 40 countries working on India-related matters, it said.
However, foreign lawyers are not permitted to deal in cases related to property transactions and cannot appear before any court or tribunal.
–With assistance from Upmanyu Trivedi.
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