Globetrotting

As Indian businesses become more global in their outlook and operations, forward-looking Indian law firms are following suit. As a result, a few intrepid firms have set up offices in some strategically important jurisdictions around the world. In moving beyond their national boundaries, these firms have had to obtain consent to operate in unfamiliar jurisdictions; search for the right talent to manage their offices there; compete with established firms; and crack cultural codes to gain credibility and the trust of new clients.

The reasons for venturing out of India differ from firm to firm. For some, it was a chance to capitalize on a new economic trend, or to be pioneers and go forth where no Indian firm had dared to go before. For others, it was a natural business decision born of client movement and activity.

Multiple models

Singapore has been one of the most favoured jurisdictions, used as a stepping stone by Indian law firms exploring international expansion for the first time, and seen by many as safe bet. The India-Singapore corridor has long been busy with banking, fundraising and transactional activities; Indian companies go there to profit from a business and tax-friendly environment; and cooperation at the government level between Singapore and India is encouraging. The statistics say it all: In 2013-14, Singapore was the largest source of foreign direct investment (FDI) into India (overtaking Mauritius) with US$5.98 billion channelled India’s way, according to India’s Department of Industrial Policy and Promotion. This accounts for about 25% of FDI inflows in that period.

Dua Associates, Kochhar & Co, Lexygen, Nishith Desai Associates and SNG & Partners all have offices in Singapore, although each one runs its operations differently. Dua Associates, for example, set up its operations in Singapore in 2009, but it doesn’t advise on Indian law despite having a licence to practise in the city. Instead, it uses its presence more for marketing purposes. Managing partner Ranji Dua says the firm set up shop “primarily to have a representation in the region with the object not of servicing clients … but to be the eyes and ears on the ground”. Partner Nishant Srivastava holds the fort there.