RSG launches India Centre releases report ranks law firms

RSG counsulting, a London based research and consulting firm has published an India report intending a holistic view of the market and the players. It released a report to coincide with the launch of their India branch, RSG India Centre..RSG counsulting, a London based research and consulting firm has published an India report intending a holistic view of the market and the players. It released a report to coincide with the launch of their India branch, RSG India Centre..Speaking to Bar & Bench, Reena SenGupta, the managing director of RSG said, “India is by far the most dynamic market I have ever seen. The market has seen a dramatic spurt in the last decade.” After having tracked trends for the last couple of years, she believes that the Amarchand Mangaldas offshoot, Barucha & Partners, Delhi-based Trustman & Co., Tatva Legal and Phoenix Legal are the future as far as law firms are concerned. The report predicts that the Indian legal market will be worth $800 million (Rs. 3,634 crore) by the end of this year. Media reports have pegged the size of the legal services market in India in 2009, was about $479 Million (Rs. 2,176 crore). If both reports are to be believed, it will mean that there has been an increase of almost 100 percent in the last one year..Reena agrees that the dynamicity of the Indian market is a result of a nascent market. “The US and UK markets reached maturity over a long period of time. Corporate law in the UK is about 200 years old. The corporate law in India, on the other hand, has grown by leaps and bounds in the last 10-15 years. I’m positive that it will soon be larger than the Chinese legal market. In three years, at the current rate, the value of the Indian legal market will reach $1 billion in 3 years.”.However, a few questions do remain to be asked. From the synopsis of the report that was provided to us, prominently absent is the size and scope of the litigation market. Considering that it is only a minority of lawyers actively involved in the practice of corporate law, the absence of an analysis of the litigation market is prominent. A Bangalore-based lawyer who does not wish to be named feels differently about the report. “I do believe it is an incomplete report. Litigation is the bread and butter for easily 95 percent of the market. You cannot have a comprehensive analysis if you do not include litigation in this,” he said..Yasmin Lambert, a consultant with RSG said, “The report focuses on corporate practice. Most of the top 40 firms do have a litigation practice and we have considered them in the report. However, we do not have a separate section dealing with litigation.”.The 2010 report, law firms were assessed and ranked based on service delivery, quality of legal advice, commerciality, pro-activity, approach to billing, value for money and innovation. Tied for the top spot are Amarchand Mangaldas and AZB & Partners, followed by J.Sagar Associates. Luthra and Khaitan & Co. are tied at rank 4. The ranking list is available here..RSG has considered opinions from Indian and foreign clients, Indian lawyers and the deal performance of the firms over a three-year period to compile the ranking. The RSG team claims to have interviewed 55 law firms and 104 clients to rate and rank the performances. But bulk of the Indian legal market is dominated by single lawyers and litigators in several civil and criminal courts. The report also delves into the total money spent by the top Indian companies in legal fees, lists expert legal services purchasers, tracks trends in changing corporate culture, and so on. The RSG India Centre, launched today is designed to be a commercial source of insight and information for foreign law firms, Indian law firms, corporate clients and outsourcing companies..Several publications and research centers have ranked or awarded “top law firm” and are increasing to show interest in the Indian market. Indian Business Law Journal, Rainmaker are some of the few that have ventured out to rank Indian law firms.