IndusLaw has joined European law firm CMS to become CMS IndusLaw. In line with the CMS model, IndusLaw will remain an independent law firm under the CMS brand.
"For CMS, the independence of our constituent firms is its strength", says Babita Ambekar, Co-Head India Desk at CMS.
The is the first tie-up between an Indian law firm and an international law firm following the Bar Council of India's opening up of the Indian legal market.
In this short interview with Bar & Bench's Pallavi Saluja, Ambekar talks about CMS' decision to get IndusLaw on board, the factors that drove this tie-up, competition with international firms and more.
Pallavi Saluja (PS): IndusLaw has joined CMS. What prompted this collaboration?
Babita Ambekar (BA): CMS is, at its core, a multi-jurisdictional powerhouse of “best in market” legal talent and capabilities. India is now the fourth largest economy in the world and one of its largest consumer markets. A number of our clients are looking closely at opportunities to participate in India’s growth trajectory. Bringing on board an Indian member firm was a natural next step for us.
PS: What factors helped you zero in on IndusLaw? We understand you were in talks with a few firms.
BA: We knew that we needed to align with a firm with multi-practice, multi-sector and multi-city capabilities in India in order to best meet client needs. While IndusLaw is a significant player in the Indian legal market, it is also “young at heart” and entrepreneurial in nature. Our organisations have strong cultural alignment and our teams felt an almost immediate connection when they met. Ultimately, successful outcomes for clients always involve great team synergy and this is a key strength of this relationship.
PS: With the Indian market opening up, how do you see this arrangement working for CMS?
BA: International law firms come in various shapes, sizes and configurations and the opening up of the Indian market will, in time, enable many different opportunities for international law firms to participate in the Indian market. For CMS, the independence of our constituent firms is its strength. We bring these top-tier legal capabilities together under one banner, while respecting the legal and regulatory requirements of each jurisdiction and that is a winning combination for us.
PS: How do you see yourself competing with international law firms setting up offices in India?
BA: Again, our proposition is different. We leverage and celebrate the strengths of our CMS member firms and their teams in each market. As a multi-jurisdictional provider of legal solutions, the Indian market is likely to increasingly feature in the global mandates that we execute.
PS: Do you see more foreign firms getting into similar arrangements with Indian firms in the near future?
BA: I think we will see a variety of approaches and we will watch developments with interest.
PS: What is your take on the registration fee and other compliances for foreign firms to advise on international law in India?
BA: There are details to be clarified, but I am sure that they will be in due course.