New Delhi: Seeking to tap the multi-billion dollar growth prospects in legal process outsourcing business, law firms are exploring all possible avenues in their bid to attract talent, including the Indian Institute of Technologies (IITs) that are better known for churning out engineers.
The LPO business in India is expected to grow to five billion dollars in less than five years, though it was nearly non-existent till a few months back.
With the shortage of required talent being a major hurdle for niche outsourced works like patent drafting, the law firms are even rushing to IITs and other premier engineering colleges in the country for hiring purposes, besides their regular destinations like law schools.
Recently, the country’s leading LPO firm Pangea3 recruited 30 graduates from the current academic session at various IITs.
The IITians hired by Pangea3 are “very excited about the opportunity to work with innovative ideas at the cutting edge of technology for Silicon Valley companies,” the company’s CEO Sanjay Kamlani told PTI.
Exposure available in LPOs is much wider as compared to the one available at R&D division of organisations, Kamlani claimed.
In a bid to attract IIT graduates to this new avenue, the law firms are believed to be offering a starting salary of close to Rs 10 lakh per annum.
The LPO industry is eyeing to hire IITians for high-end jobs like patent application and process prosecution of products, which are being outsourced from a number of sectors like IT, telecom, pharma and electronics.