From AI to ESG: Law firms tap non-legal talent to navigate emerging fields
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The shift reflects the evolving nature of legal services, where multidisciplinary expertise is becoming essential to navigate the complexities of modern business and regulatory environments, said industry executives and experts.
Haigreve Khaitan, senior partner at Khaitan & Co, said the legal market has evolved dramatically, introducing several specialised segments from digital infrastructure to private credit to quick commerce.
“We are continuously exploring new advisory services to align with growing client requirements including onboarding sector specialists. The fast-paced world of technology and, in particular, AI is one area that is a game changer,” he said. “We have added depth with practices like investigations and white collar crime, and sub-verticalisation in real estate, which would include hospitality and focus on niche practices like defence, education, fintech, private clients, ESG and GCCs (global capability centres).”
Law firms are deepening their offerings by adding more expertise as compliance costs rise for India Inc. Nifty 500 companies spent Rs 52,568 crore (about $6.26 billion) on legal expenses during 2023-24, up 17.03% from Rs 44,920 crore in the previous year, according to data compiled by ETIG.
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