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Legal outsourcing: the next BIG thing!
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.
TIMES NEWS NETWORK[ MONDAY, OCTOBER 10, 2005 01:06:56 AM]