| NRIs!
10 Years No Minimum Balance!
The US legal
market size was in the region of $200 bn in ’04.
By end of ’04, over 12,000 legal jobs were
expected to shift to low-cost
countries , mainly India, according to Forrester
Research.
Estimates of what has actually
happened vary considerably with Nasscom estimating
less than few hundred having shifted to India.
Forrester estimates this number
to triple by 2010, and further double by 2015,
thus leading to more than 80,000 jobs shifting
to India by 2015.
Ganesh Natarajan, CEO, Mindcrest,
strongly doubts if 100,000 jobs could get transferred
to India, pointing to the lack of adequate number
of lawyers in India and the quality of legal
education and training.
Now legal
jobs — and we are not discussing mere
low-end para legal ones — are billed at
average $500 an hour in US, explains Sanjay Kamlani,
co-CEO, Pangea3. Even if the billing from India
is at $100 an hour, it would mean revenues of
$200,000 per annum per person, adds Mr Kamlani.
PRABHAKAR DESHPANDE
TIMES NEWS NETWORK[ MONDAY, OCTOBER 10, 2005 01:06:56
AM]
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