President Lalit Bhasin told a meeting of journalists: 'We opposed the entry of foreign law firms for more than 20 years and there was a reason to do that. We had to prepare ourselves. We had to come up to certain level to compete with foreign law firms. Now I can say that we have achieved our expertise, efficiency and competency.'
Singapore model
He later said, apparently as a joke: 'Let the alien invasion happen. We are equipped to face them.' One model that Silf has suggested is the one followed in Singapore through which foreign firms start off by being able to practice only as part of a joint venture with a local firm. Source: Legally India
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