1. INDIA
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2. ECONOMY OF INDIA
 The independence-era Indian economy was based on
a mixed economy combining features of capitalism and
socialism
 India adopted liberal and free-market principles and
liberalized its economy to international trade
 Tenth-largest economy in the world by nominal GDP
 Third-largest by purchasing power parity (PPP)
 Country's economic growth progressed at a rapid
pace, with relatively large increases in per-capita incomes.
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3. India is the 19th-largest Exporter and the 10th-largest Importer in the world.
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4. Global Trade Relations
 India is a founding-member of General Agreement on
Tariffs and Trade (GATT) since 1947 and its successor, the
WTO
 India's major trading partners are the European
Union, China, the United States of America and the United
Arab Emirates
 Major export commodities included engineering
goods, petroleum products, chemicals and
pharmaceuticals, gems and jeweler, textiles and
garments, agricultural products, iron ore and other
minerals
 Major import commodities included crude oil and related
products, machinery, electronic goods, gold and silver
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5. INDIA OPENS DOOR TO FOREIGN INVESTMENT
 India allowing big foreign retailers , foreign
broadcasters and foreign airlines to invest in the
country
 Bringing in big foreign brands, like Wal-Mart
which can now open stores in India in
partnership with a local company, is expected to
help.
 The government also allowed foreign airlines to
purchase 49% percent of an Indian airline, and
investment in broadcasting companies.
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6. Foreign Direct Investment
•India has positioned itself as one of the front-runners of the rapidly growing
Asia-Pacific region
•The second most important FDI destination (after China) for transnational
corporations during 2010–2012.*
•Mauritius, Singapore, US and UK were among the leading sources of FDI.
•Higher inflows were services, telecommunication, construction activities
and computer software and hardware.
•India has strengths in telecommunication, information technology and
other significant areas such as auto
components, chemicals, apparels, pharmaceuticals, and jeweler
•India has a large pool of skilled managerial and technical expertise
*Note:- Information based on United Nations Conference on Trade and Development (UNCTAD) survey
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7. EMPLOYMENT
 Agricultural and allied sectors accounted for about
52.1% of the total workforce
 Avenues for employment generation have been
identified in the IT and travel and tourism
sectors, which have been experiencing high annual
growth rates of above 9%
 The 11th five-year plan has also identified the need for
a congenial environment to be created for employment
generation, by reducing the number of permissions
and other bureaucratic clearances required
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8. INDIA LARGEST TRADING PARTNER
 The rapid and sustained growth of the Indian economy has
increased demand for lawyers with international and cross-
border commercial legal services experience to service the needs
of foreign investors, multinationals and Indian exporters The
availability of commercial legal services spanning the laws of
multiple jurisdictions (fully integrated legal services) contributes
to the security and predictability of the local business
environment and is a catalyst for foreign investment.
 The legal services market in India is currently closed to foreign
lawyers, even for the practice of foreign law.
 The benefits to India’s legal services sector could be expected to
include innovation in the supply and delivery of commercial
legal services, improved client responsiveness due to increased
choice in legal services providers, cost efficiencies in the supply
of legal services, and enhanced availability and standards of
professional training.
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9. LEGAL PROCESS OFFSHORING
The median annual salary of a lawyer in the United States is
around $95,000. The median annual salary of a lawyer in
India is around $20,000 per year. This significant salary
differential is prompting a growing number employers to
export legal work to low-wage, developing countries
overseas
India is currently the leading destination for off shoring legal
services. With tens of thousands of students graduating
from India’s law schools each year, India boasts an
enormous labor pool of highly trained, English-speaking
lawyers. Like the U.S., India’s legal system is based on
British common law, reducing the learning curve for Indian
legal employees who work for clients
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10. GROWTH OF LEGAL PROCESS OFF SHORING
The advent of the Internet, increased automation of
legal processes, developments in data security, new
technology tools, economic changes and the
availability of well-educated low-cost foreign labor
have combined to instigate and energize the LPO
occurrence. Legal Processing Off-shoring is occurring
in nearly all sectors of the legal services industry.
 Legal Secretarial and Administrative Functions
 Litigation Support Functions
 Lawyer Functions
 Paralegal Functions
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