The US Economy has recently seen the fall of the biggest giants like Lehman brothers, Merill Lynch, Washington mutual and the other ailing biggies. This has become a silver lining for the Legal Process Outsourcing (LPO’s) in India who are gearing up their risk assessment teams in anticipation of huge amount of work coming in to process their client data and asset managements. Currently the Lawyer rates in US are at sky high ranging anywhere between 250$ to 500$ per hour. But the rates in the Indian market for these services would be as low as 10% of the rates in US. This is predicted to be a mojor factor for the outsourcing.
A massive 35,000 lawyer jobs is expected to be shifted off-shore by 2010 and is expected to increase to about 75,000 by 2015. Somebody’s loss is someone’s gain. It’s a positive sign for the already booming BPO sector in India.
