How Indian lawyers get by on only $1.4m of GDP; Mint & LI demystify Indian legal market

Mint: A page for the legal profession every second Friday
Mint: A page for the legal profession every second Friday
Mint - easily India’s best quality business daily – will now feature cutting-edge legal industry news and analysis in its pages every second Friday under an exclusive new content partnership with Legally India.

In today’s Mint edition, Legally India editor Kian Ganz’s colum demystifies India’s legal market: Despite India’s fairly average legal population density every lawyer here has to make do with only $1.4m of GDP. This, it turns out, is the lowest figure in both developed and developing legal markets. Click here to read the column on this, pseudo lawyers and more.

Please comment below or on Mint with suggestions for future topics or stories worth covering.

Comments

X 25 Nov 2011, 04:38
+1 -0
Excellent article. Strange that you are so outspoken in Mint but your website is a mouthpiece for SILF and the pseudo-lawyer lobby.
kianganz 25 Nov 2011, 05:17
+0 -0
Thanks for the feedback X, glad you enjoyed.

To clarify, I do not consider that LI is anyone's mouthpiece.

For one, the philosophy with which LI was founded was that it should be an unbiased and balanced source of news. In straight news there is no place for my opinion, nor should there be. In features, we generally try to balance both sides to stories, as we should.

Sometimes our email newsletters (which should resume regular service shortly) have also contained a sprinkling of opinion, although again in moderation.

The Mint article, on the other hand, is an op-ed style piece that makes a specific argument. This of course requires an opinion of some sort to be readable.

Best wishes,
Kian
AB 25 Nov 2011, 05:57
+1 -0
Good article, this kind of thing needs to be talked about much more in the mainstream.
Good stuff 25 Nov 2011, 07:22
+0 -0
Kian how about an article on next gen lawyers. Lawyers who are the rising stars of tomorrow? Not only from the big firms but smaller firms and not just Delhi/Mumbai.
Also for those who arent lawyers, something on what non-contentious lawyers do; could be a funny caricature of the roles and personalities.
The whole promoter run model, opening up for foreign firms is now stale, do something interesting!
Alum 25 Nov 2011, 09:46
+0 -0
Kian, there is an increasing majority from the law schools which is looking beyond the obvious and choosing off-beat career paths. It will be a very interesting read if you could write on this trend of lawyers diversifying in to different things. It will be an eye-opener for many who think the law school dream ends with a plush law firm job.
London Lawyer 25 Nov 2011, 12:00
+0 -0
Excellent initiative Kian, congratulations.

Since this is a regular tie-up with Mint, it would be great if the articles could be a combination of analysis of (black letter) legal issues, besides an analysis of the legal market/ law firms which you will anyway provide. Another suggestion: you could, perhaps, have a small section dealing with the big ticket deals every fortnight, which would give the mainstream audience more of a flavour of what you do.
SCAM 25 Nov 2011, 12:03
+1 -0
IT'S A SCAM - there is still room for salaries paid by Indian law firms to go up. Assuming a first year associate at a top law firm on an average has a billable rate of Rs.5,000 per hour - even if he works only 1,500 hours in a year and the law firm realizes only 50% of his billable time (including write-offs and fixed price deals), the law firm will generate Rs.40,00,000 on the first year associate's labour - which is 4 times the salary of even those first year associate that are paid higher than the so-called 10 lakh psychological barrier. TIME FOR HIGHER PAYS CHAPS!!
disappointed 27 Nov 2011, 04:07
+0 -0
One thing I find really disappointing with LI is the Amarchand-Khaitan-Maitan fixation. there a lot of less talked about firms have lawyers educated in top foreign universities and do work for reputed international clients. You will learn more from the seniors here than some of the seniors in the big firms (many of whom can't even speak Englis properly). Also, the pay is equal to Amarchand if you divide it by the number of hours you work. I'm not sure whether LI deliberately does not cover them in case the SILF bigwigs get threatened.