After India's voters gave a strong mandate to Prime Minister Manmohan Singh and his moderate Congress party last month, the country's stock market bounced on the expectation that Singh would liberalize the nation's economy. Somewhere on the list of things to loosen, some lawyers hoped, might be India's long-standing ban on foreign law firms -- a ban backed by key trade groups of Indian lawyers. But according to experts quoted in a recent Bloomberg article, that might not be the case.
Still No Passage to India for Foreign Law Firms
The American Lawyer
June 18, 2009