The quality of legal institutions in India will directly impact the economic trajectory of the nation as it targets a $30 trillion economy, Cyril Amarchand Mangaldas Managing Partner Cyril Shroff said in Mumbai on October 9.
Shroff was speaking at the second edition of the Legal League Consulting conclave on Future Ready Law Firms and Legal Departments. He urged the legal community to begin constructing an institutional framework equipped for a rapidly changing commercial landscape.
“My proposition this morning is that the quality of India's legal institutions including law firms will help determine the quality of its economic growth,” Shroff remarked.
He emphasised that achieving India’s 2047 Viksit Bharat goal required absolute trust in the legal architecture.
“Rule of law and economic growth are not enemies. Viksit Bharat, a $30 trillion economy and a lawful economy, are one and the same. They are two sides of the same coin,” he remarked.
Shroff outlined six major themes currently reshaping the legal landscape: geolegal risks, domestic regulatory agility, loss of legal privilege, artificial intelligence, internationalisation and the evolving role of corporate lawyers.
On geolegal exposure, he explained,
“All that it takes is one executive order to switch it all off. Business will come to a standstill. While at one level it may appear to be legal, it is anything but legal. It is geopolitical."
On domestic regulation, Shroff highlighted the operational friction caused by rapid policy notifications from regulators, making traditional check-the-box compliance obsolete. He also addressed the evidential vulnerability of in-house legal teams, urging them to challenge Bar Council of India restrictions that deny corporate counsel full privilege.
Shroff cautioned that artificial intelligence (AI) is fundamentally altering traditional mentorship.
“The biggest casualty I think is that your future partners and future advisors would not have been trained in the apprenticeship model,” he warned.
He also advocated for a decisive shift away from hourly billable rates towards value-based pricing.
“The input based system is fundamentally flawed because it rewards the wrong thing. Why do you need to spend more hours to earn more money?”
The conclave began with remarks by Legal League Consulting Founder & Managing Director Bithika Anand. She highlighted the generational shift facing Indian law firms.
“The firms that will endure are the ones that move from being personally driven practices to genuinely institution driven ones. That shift requires governance structures, leadership continuity, succession planning and professional management at every level,” Anand stated.
The inaugural panel featured Larsen & Toubro Group Legal Advisor Hemant Kumar, Nykaa Chief Legal Officer Sujeet Jain, Adani Group General Counsel Jatin Jalundhwala, Dhaval Vussonji & Associates Managing Partner Dhaval Vussonji and ICICI Bank General Counsel Nilanjan Sinha.
The panelists highlighted how corporate governance serves as an engine for value creation grounded in trust and dharma, while stressing the need to cultivate secure second-line leadership.
In the following session on market consolidation, moderated by SNG & Partners Managing Partner Amit Aggarwal, speakers included APAC Financial Services Chief Compliance Officer K Selvaraj, Suzlon Group General Counsel Sandeepp Chowdhury and Kenvue Executive Director and Head of Legal - India Mayur Vasani.
The panel explored how corporate legal departments assess law firm tie-ups, partner movements, and boutique practices based on partner trust, cost efficiency, and data security.
The third session, moderated by Regius Legal Senior Partner Dr Ish Jain, brought together ANM Global Managing Partner Nidhish Mehrotra, National Stock Exchange Legal Head Amber Gupta, TCS General Counsel Madhav Uppuluri and Rusk Media General Counsel Alok Shah.
The speakers discussed turning partner-driven client relationships into long-term institutional alliances through structured organizational processes and cross-practice value.
Post-lunch, the conclave opened with a panel on organisational culture moderated by ex-VP and General Counsel India of Netflix, Kiran Desai. The panel featured LexConsult Co-Founder and Partner Naresh Pareek, S Majumdar & Co Partner Suhrita Majumdar, Gallagher Insurance Brokers Chief Legal Officer and Head of Claims Jyoti Krishnan and Legal League Consulting CEO Nipun Bhatia.
The panellists explored the importance of hiring for cultural fit over purely technical skills to successfully manage multi-generational teams.
The following session, focusing on talent retention and reshuffling, featured Akasa Air General Counsel Bharat Vansh Bahadur, Bharucha & Partners Managing Partner Justin Bharucha, Pidilite Industries Legal President Ami Parikh, and Central Depository Services India General Counsel Rajat Srivastav.
The panelists analyzed partner churn, non-compete structures and lateral movements between private practice and in-house teams.
The concluding session, moderated by Supreme Court Advocate-on-Record Pranay Chitale, evaluated enterprise AI implementation.
Panellists included DNEG Global General Counsel Zameer Nathani, Godrej & Boyce Group General Counsel and Executive VP Tapan Patil, Datamatics President and Chief Legal Officer Divya Kumat and Hindustan Unilever Executive Director, Legal and Corporate Affairs Vivek Mittal.
The panel discussed AI-driven contract drafting, copyright risks in prompt engineering, and risk allocation in AI-assisted work products.