India Business Law Journal presents its annual coverage of the best foreign law firms for India-related work.
By George W Russell in Bangalore
With the prospect of a slowdown led by the credit crunch in the United States and the tottering banks of the West, international law firms are looking to India’s demand for infrastructure and capital to guide them through the hard times ahead. Indeed, the past 12 months have seen a flurry of capital raising, mergers and acquisitions and project financing that has firmly established India as a vital market for international legal services.
With 8% gross domestic product growth forecast in 2008 by the Asian Development Bank, the Indian economy is outpacing overall growth in developing Asia and is humming not far behind China and Vietnam.
“It is by now a cliché to point out that India has enormous infrastructure and other needs, and one of the world’s youngest, best-educated and fastest-growing middle-class populations,” says Glenn Gerstell, managing partner of the Washington DC office of Milbank Tweed Hadley & McCloy.
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