But global firms still made a big impact in the rapidly growing jurisdiction, with New York white shoe practice Skadden leading the pack, albeit with just one meaty deal worth some $10.3 billion.

Mineral deal

According to a report on web site Legally India, figures from data analysts Mergermarket released last week show Amarchand was instructed on 39 deals, worth more than $20bn in total. That was roughly twice the value of the deals conducted by the second placed firm, Luthra & Luthra, although that practice racked up $10.4bn on the back of just five deals.
The web site points out that one transaction significantly boosted Amarchand’s position last year – February’s $10.5bn merger between copper manufacturer Sterlite and iron ore producer Sesa Goa.

Global players

Skadden finished in third place in the deal value table, followed by London-based magic circle player Allen & Overy, fellow London firm Ashurst, and magic circle rival Slaughter and May in fourth, fifth and sixth places, respectively.
In terms of number of deals conducted, local firm Desai & Diwanji was the clear leader with 43, although their total value was only $1.4bn. Recently merged Anglo-Australian firm Herbert Smith Freehills was the highest ranking global firm in the volume table, with the London-based firm instructed on eight Indian deals, worth $4.5bn.