NEW DELHI: High-end legal services are likely to lead the next wave of offshoring with about 35,000 lawyers' jobs likely to move from US to countries like India by 2010. In its latest study, prepared in July, Nasscom says that MNCs, international law firms, publishing and legal research firms are now increasingly sourcing specialised legal services from India. This is a substantial shift from the existing outsourcing assignments such as credit cards and online technical support. Forrester Inc has found that at least 12,000 legal jobs have been outsourced from US to offshore locations till 2004. The firm projected that of the 35,000 US lawyer jobs expected to be shipped out, 60 to 70% could be headed India's way. By 2015, the total number of outsourced jobs from the US could touch 79,000. ''Reports indicate that billing by Indian lawyers to US firms for in-house work alone ranged from $5 million to $15 million in 2004," says Sunil Mehta, V-P, Nasscom. He says, about 700 employees are estimated to be engaged in providing legal BPO services from India. The global spending on legal services is estimated to be at least $250 billion and Nasscom says that the future looks brighter. ''For a country which churns out close to three lakh law graduates every year, and job market still largely supply-driven, this certainly is good news," says Amit Bhagat, legal consultant, Ernst & Young. ....
http://economictimes.indiatimes.com/articleshow/1217363.cms
NAVNEET ANAND
TIMES NEWS NETWORK[ FRIDAY, SEPTEMBER 02, 2005 12:50:53 AM]
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2 comments:
Legal outsourcing is definitely creating more employment opportunities for law graduates in India and more than making up for the lack of it in all these years.
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