Singapore most likely to be location of first international office – Amarchand Mangaldas’ Shardul Shroff

In an interview given to Legal Week, the co-head of India’s biggest law firm said that the firm’s first international office could very well be located in Singapore. Shroff also said that the firm may open a ninth office in one of the smaller cities soon, and will be crossing the 100-Partner size by the end of next year.

In connection with the location of the international office, Shroff said that,

“Singapore [is the strongest contender] because its links with India are quite strong. Singapore enables clients to service the whole of the ASEAN market. But it could be Hong Kong, London, Dubai or New York – it depends on what 2016 looks like. It also depends where clients need us.”

We want to do it properly. We also don’t want to disturb our international relationships with global law firms – we want to preserve these. But equally we want to provide Indian expertise that is relevant to the international market. We want to be present in markets where the local Indian situation becomes relevant; approaching the clients on their doorstep rather than expecting them to come to India.”

In the article, Shroff also says that international law firms may be allowed to enter the country in the next ten years. In a 2010 interview with Bar & Bench, Shroff had said that one of the issues that needs to be discussed is the need for a level playing field vis-a-vis foreign law firms entering the market.

“Nobody is actually preventing foreign lawyers from coming into India. I know hundreds of foreign lawyers who come in and go out daily. It’s a canard which is being spread because our regulators and legislators have not learnt and implemented what it takes to protect a profession,  in a valid way and not restrictive way, I’m not for restriction. I’m saying, make the rules right along with a level playing field.  Let everybody get the same benefits.

A Clifford Chance has a GBP 100 million line credit, which is nearly 700 – 800 crores. Tell me of one firm in India which has a Rs.700 crore liquid cash credit facility available to it. Where is the level playing field, where is the treatment from bankers treating us at par with Clifford Chance? This is what needs to be debated, but unfortunately the debate has not progressed.”

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