As the latest development, Society of Indian Law Firms (SILF) has vehemently reacted to the allegations of the Bar Council of India (BCI) saying the former is against the entry of the foreign law firms in the nation. The BCI had also accused SILF earlier and accused the body of blocking progress and hindering the philosophy of liberalization of the Indian legal service. Nonetheless, in a more elaborate statement, SILF made it clear that it does not oppose reforms but wants a level-playing field of the Indian law firms. Laying emphasis that they do not oppose modernization of the profession, the organization said that any such action must safeguard the interests of the native practitioners.
This news is being received at a time when the legal fraternity was debating the consequences of such move to allow foreign firms to operate in India. The SILF submitted that the present day comments by BCI do not reflect its actual stand and bypass the issues that are the subject of concern of the majority of legal professionals in the land. SILF reasons that its opposition is based on the fact that it needs a healthy regulatory framework which is not skewed against home Indian firms operating within its own market. This has left the legal fraternity waiting with bated breath till things are unfolded further as the matter is capturing a lot of national attention and giving rise to discussions regarding the future of India as far as its legal services industry is concerned.