How are Indian Law Firms Expanding Their Reach in the Global Market?

Indian law firms are expanding globally by establishing offices in key international hubs such as Singapore and Dubai. This strategic move is driven by the rise in cross-border transactions and international arbitration, with the goal of assisting multinational companies venturing into the Indian market. Leading firms like Cyril Amarchand Mangaldas and Khaitan & Co are at the forefront of this trend, forming strategic partnerships in Europe and Africa to access new markets and maintain global standards.

Amidst the influx of multinational companies looking to enter or expand in India, domestic law firms are venturing into international markets to support these companies and explore opportunities abroad. Indian law firms are increasingly competing on a global scale for cross-border deals, international arbitration, and fundraising. They are now establishing offices in international financial centers like Singapore and Dubai, while also engaging in partnerships with firms in Europe and Africa.

Cyril Shroff, the managing partner of Cyril Amarchand Mangaldas (CAM), emphasized, "The opening of offices in foreign jurisdictions showcases our dedication to these markets and fosters collaboration. It enables us to access new markets with an Indian connection."

In March, CAM inaugurated its second overseas office in Abu Dhabi, following the launch of its initial international branch in Singapore in December 2021.

"Expanding internationally contributes to the globalization of the legal profession, particularly in terms of adopting global best practices and ensuring services meet international standards. It also reinforces the concept of 'bringing India to the world'," Shroff remarked.

Boost in Investments

According to the India Brand Equity Foundation, a body under the commerce ministry, foreign direct investment inflows reached $71.35 billion in FY23, with provisional figures for FY24 standing at $70.95 billion. These investors will require legal advisors in India.

Haigreve Khaitan, the senior partner at Khaitan & Co, described the law firm's expansion into Singapore as a well-thought-out strategic move, given its significance as a key hub for India-related legal work. Khaitan stated, "We will continue to assess the potential of new markets, consider our clients' global aspirations, and maintain flexibility in our approach."

"As the landscape evolves, particularly with the potential entry of foreign law firms into India, global offices may also serve as a safeguard against any decline in referral work." In March 2021, Khaitan & Co, with over 113 years of history, launched its first overseas office in Singapore.

Strategic Collaborations

Last month, New Delhi-based law firm Areness Law formed a strategic partnership with Polish firm Dudkowiak, Kopec & Putyra to provide cross-border legal services. In March, the firm also signed a memorandum of understanding with German law firm Schmidt, von der Osten & Huber.

Mumbai-based firm Vertices Partners is contemplating the opening of its inaugural overseas office in the Middle East in the upcoming months and is exploring potential expansion into Africa.

"We have reached a size and stage where we are 'large enough to be significant, yet nimble,' enabling us to adapt to the needs of clients and collaborative partners," stated Vinayak Burman, the managing partner at Vertices Partners.

"Consequently, several firms are in discussions with us, and we are also engaging with firms in other regions. The firm is actively exploring opportunities in Southeast Asia, including Singapore, Malaysia, and Indonesia, as well as major hubs like London, Paris, and Frankfurt.

 In recent years, Jaipur-based Capstone Legal has entered into collaboration agreements with Nigerian law firm Olisa Agbakoba Legal and Singapore's Vanilla Law.

While numerous Indian law firms are now venturing overseas, some have been operating internationally for several years. Nishith Desai Associates has offices in Silicon Valley, New York, and Singapore, while Kochhar & Co operates in Dubai, Chicago, and Toronto.

Rohit Jain, the managing partner at Singhania & Co, highlighted that their firm was the first Indian law firm to establish a London office back in the 1990s when the concept of a national law firm was still in its infancy in India. "Recognizing the growth opportunities in the UAE, we opened an office in Dubai last year and plan to intensify our focus on the Middle East and Africa regions," he added.