The BCI has decided to allow foreign law firms to set up offices in the country to offer corporate law and merger and acquisition (M&A) services to clients, a major move seen as reshaping the landscape of a sector long dominated by local companies.

The Bar Council of India (BCI) in new rules issued on Wednesday said foreign lawyers and law firms can also advise on international arbitration cases on a reciprocal basis, meaning lawyers from only those countries which allow similar opportunities to Indian lawyers can practice in India.