Practice Areas: Legal process Outsourcing

Industries

Fast Moving Consumer Goods Sector (FMCG)

Demand for Consumer goods have always been the need for a growing economy and India is no exception for this. India's consumer market is riding the crest of the country's economic boom. Driven by a young population with access to disposable incomes and easy finance options, the consumer market has been throwing up staggering figures. Researches shows that India one of the top most country in spending on consumer durables, apparel, entertainment, vacations and lifestyle products.

Information Technology, E-Commerce And Specialized Electronics

In today’s era the economy’s growth and prosperity are closely linked to the growth in the IT Sector and Electronics Sectors. India has emerged as the fastest growing IT hub in the world with compound annual growth rate exceeding 50% in the last five years, its growth dominated by IT software and services such as Custom Application Development and Maintenance (CADM), System Integration, IT Consulting, Application Management, Infrastructure Management Services, Software testing, Service-oriented architecture and Web services.

Similarly the electronics industry has recorded very high growth in recent years. The relaxation of foreign investment norms, allowance of 100 percent foreign equity reduction in custom tariffs, and delicensing of several consumer electronic products has attracted investment in this sector. The domestic industry also responded favorably to the economic policies of the government. The opening of the electronics field to private sector enabled entrepreneurs to establish industries to meet hitherto suppressed demand. Improvements is the electronics industry have not been limited to a particular segment but encompass all its sectors, Strides have been made in the areas of commercial electronics software, telecommunications, instrumentation, positioning and networking systems, and defence.

Steel Sectors

Steel has been considered as an important tool for development of any modern economy and the level of per capita consumption of steel is treated as one of the important indicators of socio-economic development and living standard of the people in any country. Soaring demand by sectors like infrastructure, real estate and automobiles, at home and abroad, has put India's steel industry on the world map. The New Industrial Policy has opened up the iron and steel sector for private investment by (a) removing it from the list of industries reserved for public sector and (b) exempting it from compulsory licensing. Imports of foreign technology as well as foreign direct investment are freely permitted up to certain limits under an automatic route.

Retailing

With changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expanding at a rapid pace. Researches shows that India has top in term Global Retail Development Index (GRDI) for the third consecutive year, maintaining its position as the most attractive market for retail investment. Indians are considered to be most aggressive in Asia in expanding their businesses, which has further lead to demand in the real sector as is evident from the growing shopping complexes and malls all over the Country. The Indian retail market which is one of India's fastest growing industries is expected to grow from US$ 350 billion to US$ 427 billion by 2010.

Hotel And Hospitality

Driven by a surge in business traveler arrivals and a soaring interest in the country, India has emerged as a leading tourist destination which has lead to a boom in Hotel and Hospitality industry. The importance of tourism for the Indian economy is evident from the fact that it contributed to 5.9 per cent of the Gross Domestic Product and provided employment to 41.8 million people. This sector has attracted huge Foreign Investment in the country. Tier II Cities like Jaipur, Gurgaon, Hyderabad, Pune, Bangalore are also seeing constant growth in the Hotel Industry which is evident from growth both in occupancy and room rates.

Public Sector Undertaking (PSU)

Public Sector Undertaking (PSU) in India play a vital role in the growth and development of the economy. Since the ‘liberalisation’ of the economy, the environment of PSUs has undergone substantial change. Given the stated objectives of government to divest and privatise, entry of private firms into markets earlier reserved for Public Sector, many PSUs have responded to these changes in some manner. Currently the government is pursuing disinvestment, which is driven more by budgetary considerations. The Government is adamant upon improving the task orientation and performance of PSUs.

Government has established a Department for Disinvestment (DOD) to lay down a systematic policy approach to disinvestment and privatisation and to give a fresh impetus to this programme.

Government has already disinvested its stake in nine PSUs, namely, Modern Food Industries Limited (MFIL), Bharat Aluminium Company Limited (BALCO), Hindustan Teleprinter Limited (HTL), Computer Maintenance Corporation Limited (CMC), Hindustan Zinc Limited (HZL), Videsh Sanchar Nigam Limited (VSNL), Indo Burma Petroleum Limited (IBP), Indian Petrochemicals Corporation Limited (IPCL) and Paradeep Phosphates Limited (PPL). In addition to these cases, Government disinvested its stake in two small PSUs, namely Lagan Jute Manufacturing Company Limited (LJMC) and Jessop & Company Limited (JCL) besides 19 properties of Indian Tourism Development Corporation (ITDC) and three hotel properties of Hotel Corporation of India (HCI). The Government has now decided that privatisation was to be considered on a case by case basis. Generally, profit-making PSUs would not be privatized. While every effort is being made to modernize and restructure sick PSUs and revive sick industry, chronically loss-making undertakings are either being sold-off, or closed after all the workers had got their legitimate dues and compensation.

Telecomunication

It has been recognized that provision of world class telecommunications infrastructure and information is the key to rapid economic and social development of the country. It is critical not only for the development of the Information Technology industry, but also has widespread ramifications on the entire economy of the country. Telecommunication contributes major part of the GDP of the country. The industry is considered as having the highest potential for investment in India. The growth in demand for telecom services in India is not limited to basic telephone services. India has witnessed rapid growth in cellular, radio paging, value-added services, internet and global mobile communication by satellite (GMPCS) services.

Biotechnology

The biotechnology revolution is sweeping the globe and India is no exception to it. Biotechnology refers to a diverse set of traditional and new technologies that use biological systems, living organisms or derivatives to produce products or processes for a specific use. Due to the new enterprise and innovation in recent years, the biotechnology sector in India is witnessing accelerated growth. The sector is rapidly attaining critical mass in terms of skills and capabilities to become a truly global player. The Indian biotech industry today comprises over 280 companies.

Infrastructure & Power Sector

The very foundation of economic, industrial and social development lies in the infrastructure and the power sector of an economy. The multiplier effect of infrastructure development on the economy is, thus, significant. Road transport, telecom, housing, railways, power, steel, cement, bridges, townships, shopping malls, food parks, aviation and shipping among others, all fall under the infrastructure sector. The global infrastructure industry and power sector has experienced rapid growth over the past fifteen years and attracted some 1,700 companies. Infrastructure was generally managed by national, single-sector utilities, but technological and regulatory change has allowed companies to cross traditional boundaries.

Capital Market & Venture Funds

The Indian capital markets and venture funds have witnessed a transformation over the last decade. India is now placed among the mature markets of the world. Automation, transparency, strict surveillance, depository system, on line trading, investor protection, new rules and regulations etc are some of the activities which only reflect the growth of the Indian capital market. Liberalization measures introduced in the Indian economy by the Government through devaluation, deregulation, delicencing, globalization, capital market reforms and free pricing have further increased the interest in stock market. A number of new investors and significant fresh funds have been inducted into the market.

Manufacturing Facility Sector

Impressive growth in industrial sector is propelled by the robust growth in the manufacturing sector which continues unabated. Manufacturers from across the world are setting up shop and businesses in India, which researches proves is due to the required skills in process, product, and capital engineering, long manufacturing history and higher-education system, vast domestic market and relatively low cost workers. India's industrial production, which makes up a quarter of the economy, is being spurred by rising incomes and savings. In fact, India's consumer spending is set to quadruple by 2025. The country's consumer market is forecast to expand at an average annual rate of 7.3 per cent. Overseas companies are investing more in India to take advantage of growing demand. Researches show that the top five growth industries in the manufacturing sector are cement, steel, pharma, gems and jewellery and engineering.

Automobile & Auto-Compenent Sector

Spurred by a huge demand from the market, the increase in production is set to improve further driven by a buoyant economy, with increasing purchasing power, new product launches, coupled with attractive finance schemes from automobile manufacturers and financial institutions. Researches show that the Indian auto industry has grown at an impressive 16.82 per cent over the last year with total sales of vehicles reaching around 10 million vehicles till November 2006 as against 8.5 million in 2005. The world's top car makers turn to India for the nuts and bolts of their vehicles. Riding this success, and capitalizing on the spiraling demand of domestic auto companies, the Indian automobile components industry has emerged as one of India's fastest growing manufacturing sectors, and a globally competitive one.

Pharmaceuticals And Medical Equipments

Driven by the knowledge skills, growing enterprises, low costs, improved quality and buoyant demand (both domestic and international), the pharmaceutical sector's value of output grew more than tenfold from US$ 1.1 billion in 1990 to over US$ 12.4 billion during 2005-06. Globally the Indian pharmaceutical industry ranks 4th in terms of volume (with an 8 per cent share in global sales) and 13th in terms of value (with a share of 1 per cent in global sales). The sector today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. In 2007, the Indian pharmaceutical industry looks ahead at a colourful horizon, what with contract research and clinical trials businesses taking wing, and the new patent regime opening new avenues for players in the country.

Media Production

Media is emerging as the cornerstone for the developing economy like India. The Indian Entertainment and Media Industry has out-performed the Indian economy and is one of the growing at an accelerated pace. The growth in media sector is attributable to economic growth and rising income levels that India has been experiencing in the past years. This is significantly benefiting the entertainment and media industry in India as this is a cyclically sensitive industry and it grobws faster when the economy is expanding. An added boost to the entertainment and media industry in India is from the demographic point of view where the consumer spending is rising due to increasing disposable incomes on account of sustained growth in income levels and reduction of personal income tax over the last decade.

Real Estate

The real estate sector in India is growing at a rapid pace. Industry experts believe that Indian real estate has huge demand potential in almost every sector be it commercial, residential and retail. Growth in commercial office space requirement is led by the burgeoning outsourcing, increased commercial activities, boom in information technology (IT) industry. Researches show that by 2010, the IT sector alone is expected to require 150 million sq.ft. of space across major cities. It is estimated that in the residential sector there is a housing shortage of 19.4 million units out of which 6.7 million are in urban India. The increase in purchasing power and exposure to organised retail formats has redefined the consumption pattern. As a result, retail projects have been mushrooming across even B-grade cities. The retail market is expected to grow at around 35 per cent. Industry observers feel that this growth is facilitated by favourable demographics, increasing purchasing power, existence of customer-friendly banks and housing finance companies, professionalism in real estate and reforms initiated by the Government to attract global investors.

Financial Sector

Mature and well functioning financial system is essential for promoting savings, channeling investment into the most productive activities and ensuring an efficient payments mechanism in an economy. In India financial sector is in a process of rapid transformation. Reforms are continuing as part of the overall structural reforms aimed at improving the productivity and efficiency of the economy. The role of an integrated financial infrastructure is to stimulate and sustain economic growth. Financial innovations have changed the whole structure and functioning of financial markets. The entire range of reforms aimed at promoting competition within a prudent regulatory regime is beginning to bear fruits. The financial position of the scheduled commercial banks has improved. The numbers of private sector banks declaring operating profits are touching the sky and the response of foreign investment flows to the liberalization measures has been very encouraging over the past few years.

Earthmoving & Mining

With a wide production capacity base, India is perhaps the only developing country, which is totally self-reliant in highly sophisticated equipment relating to Construction and mining like hydraulic excavators, wheel loaders, backhoe loaders, bull dozers, dump trucks, tippers, graders, pavers, asphalt drum / wet mix plants, breakers, vibratory compactors, cranes, fork lifts, dozers, off-highway dumpers (20T to 170T), drills, scrapers, motorgraders, rope shovels etc. These sophisticated equipments perform a variety of functions like preparation of ground, excavation, haulage of material, dumping/laying in specified manner, material handling, road construction etc. These equipment are required for both construction and mining activity. India has only a few, mainly medium and large companies in the organized sector who manufacture these. The technology barriers are high, especially with respect to mining equipment and therefore the role of Manufacturers is restricted to manufacture of components and some sub-assemblies. Most of the technology leaders like Case, Caterpillar, Hitachi, Ingersoll-Rand, JCB, John Deere, Joy Mining Machinery, Komatsu, Lieberr, Poclain, Terex, Volvo are present in India as joint venture companies, or have set up their own manufacturing facilities, or marketing companies. The industry has made substantial investments in the recent past for setting up manufacturing bases, despite small volumes and uneconomic scales of production compared to global standards.

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