Why are the Roles and Importance of Law Firms in India Growing?

Roles and Importance of Law Firms in India

The secular federal republic of India maintains a notable reputation in respect of the legal services also, and currently, it enjoys the second-largest magnitude of legal professionals in the world, with over 6 lakh lawyers and solicitors. According to the 2012-13 economic survey (helmed by the Ministry of Finance, Govt. of India), the market of legal services in India grew by an average annual rate of 8.2% between 2005 and 2012, and the size of this reached the level of US $1.3 billion in year 2017. In future years and decades, the scenarios of the legal services in India are strongly expected to become better and booming, owing to the facts and factors mentioned in the paragraphs below.

At present, the steadily growing mixed economy of the republic of India is the fifth-largest economy in the world by the nominal GDP (around US $3 trillion), along with being one of the fastest growing economies in Asia and the world. Right from the 1991 economic liberalization, the vast and varied Indian economy has regularly been growing with an average annual growth rate of 6-7% and today, the majority of its major economic sectors are growth-oriented. Also, primarily due to its highly ambitious “Make in India” campaign, India is currently one of the most alluring and lucrative investment destinations in the whole world (boosted by ever-increasing globalization and constant policy reforms), and has received a massive Foreign Direct Investment (FDI) so far in many different sectors. Again, containing nearly a fifth of the world population (about 1.37 billion at present, the second most populous in the world), India is the largest democracy in the world.

All above-mentioned facts and factors have been creating (and will remain doing so in near future) a huge and constant demand for the corporate and domestic legal services in entire India. The liaison offices of the foreign law firms are also allowed in the country, to meet the requirements along with the Indian law firms, and improve the competitiveness of the legal services in India. These legal services encompass a rather wide range of quasi-legal, advisory, and transactions services for the corporate and other realms. Emergence of numerous full-service law firms in past decade, was highly useful and favorable to meeting the domestic requirements, along with creating rich and varied opportunities for the legal professionals in the country. However, there still exists broad scope for betterment and innovations in the sector of legal services in India.

Global Jurix - A Full-Service Providing Law Firm of India

With its head office well-established in Delhi, and many branch and liaison offices in India and abroad, Global Jurix has been a full-service and full-fledged law firm of India, for over a very successful decade. Counted among the highly prestigious law firms of India, this well-resourced and innovative law firm has been extending expert, responsible, and economical legal services related with almost all various Indian legal Acts and Statutes to the professional and corporate worlds in India. Foreign Direct Investment (FDI) into various Indian economic sectors, and cherished business expansions of Indian companies to international arenas, have also been adroitly supported by our veteran advocates and solicitors of international fame.  Owing to all above features and fortes, our fast-paced and punctilious law firm is regarded one among the fast thriving and hugely popular law firms in India for harnessing the full-range of legal services by any individual or economic entity active in any economic field anywhere in entire India. 

Legal Firm Global Jurix
S-191 C,School Block, Shakarpur
Delhi- 110092
Website: www(dot)globaljurix(dot)com
Call at +91-9810062387
Mail at: corporate(at)globaljurix(dot)com