Changing Dynamics of Negotiation of International Contracts in India: A Paradigm Shift from Stringent Risk Management to Business (Revenue) Driven Negotiation
Harish Suryavanshi, Senior Manager - Legal, Aegis Limited, India
Over the last few years, economic reality has changed considerably, it is most likely that contracts or business deals agreed more than 5 years ago will no longer be in alignment. Organizations and the negotiating lawyers that haven’t reconsidered their commercial contracts or business deals in the light of changes in the overall business strategy will need to make a review of these contracts.
The strategies of negotiating contracts in India are being changed as a result of the maturation of the outsourcing market, growth in cross border transactions, the recent spurt in M&A activity and subsequently the rise in new service offerings, partnering ventures and exploring new markets. This can be attributed to rising competition, an ever growing appetite for gaining more and more business and the continuous ambition to expand business both locally and globally in various business sectors.
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