- October 7, 2011
- Posted by: admin
- Category: News
DUBLIN–(BUSINESS WIRE)–Research and Markets (https://www.researchandmarkets.com/research/5696d8/indian_legal_proce) has announced the addition of the “Indian Legal Process Outsourcing Market” report to their offering.
Legal Process Outsourcing is a lucrative route to reduce cost and increase efficiency by outsourcing legal work. As per January 2010 data there are more than 128 LPO providers in India alone, India currently employs around 32,000 people and it is expected to rise with the high growth rate. LPO professionals not only include lawyers but they may be engineers, Chartered accountants, CS, as well as professionals from other fields. Political considerations and ongoing caution across all sectors will support the growth of the on-shore delivery market, though India remains the most common delivery location. Indian LPO industry which was valued at US$640 million at the end of 2010, is expected to grow to US$ 4000 million by the end of 2015. Furthermore, India is expected to be a leader as legal service provider in the world and the proportion of service being provided by India to USA will reduce from the current 65% to 55% and of UK from current 18% to 12%.
The new section and new country which will emerge for India in this sector will be Canada, Russia, Israel, Spain, France, Australia and Germany. Germany which uses Indian LPO currently for cases of arbitraging and export problems due to English in USA is thinking for transferring more and more jobs to India as new Indian lawyer are also skilled in speaking German hence giving Germany a leading hand in development of LPO sector in India. Although, outsourcing legal processes seems to be the most obvious alternative to most law firms, embarking on such a strategy, however, encompasses a number of complexities. Mindful of the fact that law firms deal with issues which are complex and highly sensitive in nature, costs alone cannot be the deciding factor when off-shoring legal tasks. One requires to perform a thorough due diligence while choosing a vendor who not only meets the key cost objectives, but also maintains high levels of confidentiality standards which are comparable to the US/UK law firms.
For more information visit https://www.researchandmarkets.com/research/5696d8/indian_legal_proce