Senior Indian law firm partners’ billing rates have increased by around 17% over two years to an average of $335 an hour (Rs 21,580 at current exchange rates) from $292 in 2015 (Rs 18,500 at exchange rates at that time), according to consultancy RSG India’s latest research and its figures from 2015.

In the latest bi-annual rankings compiled by consultancy RSG India, AZB & Partners has topped the table ahead of Shardul Amarchand Mangaldas (SAM) and Cyril Amarchand Mangaldas (CAM), which had topped the table in 2015 when still united in one firm as Amarchand Mangaldas before their break-up (see full table below).

Linklaters, Clifford Chance, Allen & Overy and Baker & McKenzie are the highest profile foreign law firms operating in India, according to the latest analysis of foreign law firms’ India businesses.

Corporate and commercial law firms in India turned over just over $1 billion in revenue in the 2014-15 financial year, estimated London-based legal market consultancy RSG Consulting in its bi-annual report on the Indian legal industry based on a survey of more than 500 clients and 26 law firm managing partners.

“)If all you care about are the top spots, not much has changed in the rankings of the 40 leading corporate Indian law firms that London-based RSG Consulting has produced since 2008.

RSG Consulting’s 2015 ranking of India’s top 40 law firms has seen no change in the six largest Indian firms since 2013, with Amarchand Mangaldas continuing to top the rankings, followed by Khaitan & Co and AZB & Partners tied in second place.

London international firms beat US firms in recognition and volume stakes.

The incumbents continued their rule in the consultancy’s 2013 ranking of law firms, while the ecosystem as a whole has widened.

Exclusive: Clients have been most impressed with associates at S&R Associates and Vaish Associates, according to a survey from consultancy RSG India, as Amarchand Mangaldas and AZB & Partners topped a ranking of Indian best law firms.

In the last year Indian law firms also grew lawyer headcounts by an average of 20 per cent while partner numbers only increased by 5 per cent.

Turnovers at India’s top 50 corporate law firms range from $500,000 (Rs 2.2 crore) to $40m (Rs 181 crore) with aggregate revenues of all firms amounting to $350m (Rs 1590 crore), estimated an analyst report on the Indian legal industry.