The Evolving Role of In-House Counsel in India's Dynamic Business Landscape Ft. Amrit Pal

In today's fast-paced and complex business environment, the role of in-house counsel has evolved beyond traditional legal advisory. In India, this transformation is particularly pronounced as companies increasingly rely on their internal legal teams to navigate regulatory complexities, manage risks, and contribute to strategic decision-making.

This interview with Amrit Pal delves into the evolving role of in-house counsel in India’s corporate sector, exploring their growing responsibilities, the challenges they face, and the strategic value they bring to organisations.

Jharna Jagtiani: Welcome, and thank you for joining us today. We’re here to discuss the evolving role of in-house counsel in India’s dynamic business landscape. To start off, can you tell us a bit about the recent changes you’ve observed in the legal sector?

Expert: Certainly! Over the past few years, we’ve seen a significant transformation in the role of in-house counsel within Indian companies. This shift mirrors a global trend where legal departments are increasingly viewed as strategic assets. A study by the Association of Corporate Counsel in 2022 highlighted that 70% of legal departments worldwide have reported a boost in their strategic value to their organisations.

Jharna Jagtiani: That’s fascinating. How is this trend reflected in the Indian corporate environment?

Expert: In India, the evolution is quite remarkable. For example, a 2023 report by the Indian Corporate Counsel Association (ICCA) noted that 65% of Indian companies with an annual turnover exceeding ?1000 crore now have dedicated in-house legal teams. This is a significant rise from just 40% in 2015. It shows that Indian businesses increasingly recognise the importance of having internal legal expertise to navigate the country’s complex regulatory environment.

Jharna Jagtiani: Speaking of complexity, India’s regulatory framework is known to be intricate. How do in-house counsels manage this?

Expert: You’re right; India’s legal landscape is a blend of federal and state laws, which requires a deep understanding and constant vigilance. In-house counsels are essential for ensuring compliance across various regulations, from the Companies Act to GST, labour laws, and environmental norms. Their role is to guide companies through this regulatory maze.

Jharna Jagtiani: That sounds challenging! Apart from compliance, what other responsibilities do in-house counsels typically handle?

Expert: In-house counsels wear many hats. They manage contract negotiations, ensuring agreements are both legally sound and culturally appropriate. They also protect intellectual property, which is crucial as India becomes a hub for innovation. Additionally, they oversee corporate governance, mitigate legal risks, and play a key role in mergers and acquisitions.

Jharna Jagtiani: Can you share an example of how in-house counsel has been critical in a major business initiative?

Expert: A great example is the legal team at Reliance Industries during the launch of Jio Mart. They navigated e-commerce regulations, data protection laws, and competition norms while the regulatory landscape was still evolving. Their expertise was crucial in ensuring a smooth launch.

Jharna Jagtiani: It sounds like in-house counsels are integral to business strategy. Would you say they’ve evolved from being just legal advisors?

Expert: Absolutely. Today, in-house counsels are seen as strategic business partners. They contribute to business strategy, proactively manage risks, and offer customized legal solutions that align with the company’s goals. For instance, the legal team at Tata Group played a pivotal role in the company’s global expansion, particularly during acquisitions like Jaguar Land Rover.

Jharna Jagtiani: What about the future? How do you see the role of in-house counsel evolving in India?

Expert: The future looks promising. We’re seeing a rise in the adoption of legal tech and AI, which will revolutionise how in-house counsels work. There’s also a trend towards increased specialisation, with roles like data privacy experts and fintech specialists becoming more common. Moreover, the position of General Counsel is gaining importance, with many expected to join the C-suite by 2030.

Jharna Jagtiani: Lastly, do you have any advice for aspiring in-house counsels in India?

Expert: Definitely. Developing business acumen is crucial; understanding the business is as important as knowing the law. Embracing technology, cultivating soft skills, staying updated on legal developments, and building a strong professional network are all key to success in this evolving field.

Jharna Jagtiani: Thank you for those insights! It’s clear that in-house counsel plays a vital role in today’s corporate landscape, and their importance will only continue to grow.

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About Amrit Pal

Blending a robust background in HR Operations and People Management with a dedication to helping organizations navigate day-to-day challenges, Amrit offers a unique perspective that marries strategic business acumen with a deep understanding of individual potential. [Name]'s journey has been driven by a passion for efficiency, innovation, and, most importantly, the empowerment of the next generation.

As an HR professional, Amrit honed their skills in creating streamlined processes, fostering team collaboration, and driving results that impact the bottom line. With extensive experience in HR operations, Amrit has developed a keen insight into what makes organisations thrive and how to cultivate a productive and harmonious work environment. Their expertise includes not only managing human resources but also aligning HR strategies with overall business goals to ensure sustainable growth and success.

Currently, Amrit is dedicated to helping corporate professionals, bringing the same rigour and strategic thinking to assist young professionals in navigating the ever-evolving corporate world. Their approach is centered around the ICE system (Identify, Charting, Elimination), designed to help individuals identify their challenges, chart a plan to overcome them, and ultimately eliminate them. Amrit's mission is to help professionals navigate their everyday corporate landscape with confidence and clarity.