Legal Service Market In India

The Indian legal services market is due for significant growth in coming years. The tailwind to legal services market service growth is backed by changing government policy. Immense pressure on the Indian government is imposed by giant business lobies to open the legal market up for Foreign Direct investment (FDI). This will have a direct imact on the larger Indian law firms to face the international competition.

Moreover the reformation of the government tax policy, the GST regime requires restructuring of companies’ internal taxation systems, which has boosted demand for both consulting as well as legal services. A number of companies are turning to major players in the consulting industry for support with internal restructuring, including the Big Four firms of KPMG, EY, Deloitte, and PwC, who have, in turn, opened specialised units to help with the tax regime.

As per the market research analyst the Indian legal market stands to grow to a potential $1.3 billion (Rs. 8,400 crore) by March 2018. Of this market value, around $400 million (just over Rs. 2500 crore) can be attributed to “contentious legal work,” which includes practices of complex litigation and arbitration.

Some Statistics of Filed Cases Categorized As per the National Grid data Total Number of cases for CIVIL and CRIMINAL are as follows

Considering these numbers, the market size of legal segment is enormous