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Mindcrest slated to become the largest LPO in India
Financial Express
May 2008
Mindcrest (India) Pvt Ltd, one of the oldest pure-play companies operating in the outsourced legal services industry, is all set to become the largest employer of lawyers in India by the end of 2008. The company is planning to add a 300 seat facility in Mumbai in the second half of 2008.
"Mindcrest currently has 450 lawyers on its rolls in Pune and another 50 employees in Mumbai", Rohan Dalal, MD, Mindcrest India, said. Once the upgrade is completed, the company will have atleast 750 lawyers on its rolls in India. "India is generating a huge interest among Fortune 500 and 1000 companies with top law firms planning to outsource their core processes to India. Besides the cost advantage, Indian lawyers are also trained in the common law system that is prevalent in the US, the UK and Canada and this works to the benefit of the Indian market", Dalal said. " Indian lawyers are becoming extensions of several legal departments of companies worldwide. This success has prompted even companies such as Infosys and Wipro to set up their own LPO divisions", he said. The LPO industry is currently valued at $200 million and is slated to grow to $4 billion by 2012.
Mindcrest has worked on more than 200 projects worldwide and is now looking at tapping new markets. "The US accounts for 70% of the company's revenues while another 25% come from the UK. While Canada is still a small market, Australia is an emerging one for us," he said. Three potential clients from Australia are slated to visit the company next week. The company plans to add new service-offerings to its portfolio. "Besides contracts, litigation support, legal analytics and compliance-related issues, we wish to create repositories of legal knowledge that would be virtual legal offices", he said.
