Krishnendu Sen and Ritankar Sahu
Since India became a signatory to the General Agreement on Trade in Services (GATS), it has been increasingly involved in multilateral negotiations for opening up its borders to…
Abstract
Since India became a signatory to the General Agreement on Trade in Services (GATS), it has been increasingly involved in multilateral negotiations for opening up its borders to international trade in services. The GATS was negotiated in the Uruguay Round of multilateral trade negotiations in 1994, and regulates trade in all service sectors between its 149 member countries. Lawyers engaged in providing legal services in foreign countries generally act as ‘foreign legal consultants’ (FLC), providing advice on international law or other non‐domestic laws. India needs to liberalize its policy in foreign trade more in order to avail of the advantages of the globalization of trade in services. This research paper aims at understanding the setbacks to the liberalization of the Indian legal services sector and realizing the potential allowing the entry of FLCs in select areas of the sector and permitting the collaboration of Indian and foreign lawyers/law firms.
Details
Keywords
Tanay Kumar Nandi and Ritankar Sahu
It is to be noted that there is prevalent widespread opposition, specially by the left parties towards FDI in retail trade in India. May be in the early 1990s employing safeguards…
Abstract
It is to be noted that there is prevalent widespread opposition, specially by the left parties towards FDI in retail trade in India. May be in the early 1990s employing safeguards to protect domestic retailers was the need of the day. Almost more than one and a half decades down the line there is a need for Foreign Direct Investment in retail trade. It is a flawed argument that the Wal‐Marts’, Tescos’ and Asdas’ will lead to the winding up of the small scale domestic retailers. Instead it is going to provide a stiff competition to the Pantaloons’ and the Westsides’. This paper starts by stressing the need of FDI in India. It uses the argument that FDI is allowed in multiple sectors and the effects have been quite good without harming the domestic economy tries to stress on the fact that FDI in retail sector must be allowed.