US bailout holds promise of legal outsourcing deals

Malvika Chandan
Posted: Tuesday, Oct 28, 2008 at 0015 hrs IST
Updated: Tuesday, Oct 28, 2008 at 0015 hrs IST

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‘This year and next will be tough for IT & BPO’

New Delhi, Oct 27: of the UK and Baker & McKenzie of the US, have offshore units in India that serve as their overseas back-office, “they are not equipped to offer the complexity of work provided by some of the organically founded LPOs”, according to Agrawal of UnitedLex.

Though no one is sure of the likely business that will come to India from the current package, some guess it could be $3 billion (roughly Rs 15,000 crore) and up. But some are not optimistic because of the mixed feelings in the US towards outsourcing. “It is questionable, given that it is an election year in the US, whether the US government will offshore work to India”, says Ashutosh Gupta, vice-president and head of investment research at Evalueserve. This could be a possible reason for a delay in work coming to India.

The US treasury has meanwhile appointed its first legal consultant, Simpson, Thacher & Bartlett, a New York-based law firm that has conducted legal work for big hedge funds, about ten days ago to provide strategic legal advise on the bailout. The initial assignment is reportedly worth $300,000....

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