On September 30, 2011 US and Indian law firms got together at the US-India Business Council’s 3rd Annual Legal Services Conference in New Delhi. The Conference was organized to form closer ties and share experiences on complex regulatory and policy hurdles.
“As economic ties strengthen between India and the United States, underpinned by ever-more sophisticated transactions, mergers and acquisitions, so too will our legal issues become more and more complex, requiring the support of the best legal and accounting talent available in our respective countries,” said Ron Somers, President of the USIBC, according to the press release.
The dignitaries who attended the conference included the Law Minister Salman Khurshid; Deputy Chief of the U.S. Embassy, Don Lu; Legal Jurist and Senior Supreme Court Advocate Fali S. Nariman; Former Chief Justice of India J.S. Verma; Chairman of the Committee on National Competition Policy, Dhanendra Kumar; SILF President Lalit Bhasin.
There were panel discussions on issues like corruption and transparent growth, tax policy (Direct Tax Code) and planning, data privacy and security and role of General Counsels.
The highlight of the conference was the USIBC Lifetime Achievement Award given to Fali S. Nariman for his contribution to global understanding and international jurisprudence. The award was presented by former Chief Justice of India J.S. Verma.
Fali Nariman on receiving the award said,
“To me the hidden message of such awards is you have done well for one lifetime. Let others takeover”.
Bar & Bench has earlier interviewed the living legend of law, Fali S. Nariman.
Speaking to Bar & Bench Chair of USIBC’s Legal Services Executive Committee and Partner at Covington & Burling LLP Ralph Voltmer said
“Today’s event was very successful. I thought it was an opportunity for Indian and US legal community to come together in real to discuss together and think about and consider complex regulatory issues that our mutual clients who are global clients in conducting business throughout the world are confronting and giving us an opportunity to think about how we can work together in order to help them achieve their business objectives.”
The USIBC was founded in 1975 at the request of the governments of India and the US to deepen trade and strengthen commercial ties. USIBC is the premier business advocacy organization representing nearly 400 of America’s top companies investing in India, joined by India’s finest global companies.