India’s legal-process outsourcing industry is still small but is growing fast. In a recent report, ValueNotes, an Indian consultancy, estimated that India’s LPO revenues will grow from $146m in 2006 to $440m this year and $1.1 billion in 2014. The number of Indian firms offering LPO services has swelled from 50 in 2005 to more than 140 today. Investors have spotted the potential. In February, Actis, a British private-equity outfit that specialises in emerging markets, invested $50m in Integreon. Intermediate Capital Group, also based in Britain, has bought an undisclosed chunk of CPA Global.
A lawyer with similar experience at a London law firm might charge up to $400 an hour for the sort of work that a lawyer does in India for $50 an hour. As law firms and corporate legal departments face mounting pressure to cut costs, an increasing number are choosing the Indian option.
Source: Global Services Media
Full article: http://www.globalservicesmedia.com/BPO/Knowledge-process-Outsourcing/The-Growth-of-Legal-Outsourcing:-Passage-to-India/23/12/9767/GS100625308499
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