The Legal Process Outsourcing (LPO) industry in India, although still in relative infancy, has seen a few years of fast paced
activity and in a matter of few years has gained tremendous experience, owing
to the recent downturn, which turned to be a boon. Current global recession,
mergers and acquisitions, and bankruptcy filings have accelerated the growth
of LPO in India. There has been a sizeable uptrend in the LPO industry since
the downfall of the US economy. In particular, the vendors providing support
functions such as Documentation Review and Legal Research have grown
immensely. Currently, Indian legal services industry is growing at a rate
of about 40% per annum.
Notably, according to the industry experts, Indian LPO industry is
expected to grow by $950 mn in 2010. The primary motive of outsourcing for
Corporations and Law Firms remains cost-efficiency. Undoubtedly, these
arduous times in the US economy are providing a tremendous opportunity to
Indian LPOs to make merry and achieve substantial growth.
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