India’s legal market, particularly in Mumbai (the financial hub), Delhi/NCR (the capital region), and Bengaluru (the technology center), is massive and intensely competitive. It is dominated by a few large, independent domestic firms known as the “Big Six” or similar designations, who handle the country’s most complex and high-value transactional work.
The top firms are essential for navigating India’s unique regulatory environment, excelling in M&A, Private Equity, Banking & Finance, and Dispute Resolution, while increasingly focusing on the booming Technology and Digital sectors.
Top 10 Commercial Law Firms in India
This list identifies the independent Indian law firms that consistently receive Tier 1 rankings and are mandated on the country’s most significant domestic and cross-border transactions.
| Rank (Approx.) | Firm Name | Headquarters | Key Practice Dominance | International Linkage |
| 1 | Cyril Amarchand Mangaldas (CAM) | Mumbai | Market Leader. Dominant in M&A, Banking & Finance, and Capital Markets. | Largest firm by revenue and prestige. |
| 2 | AZB & Partners | Mumbai | Elite Corporate/M&A, Private Equity, and Competition Law. | Consistently handles high-profile transactions. |
| 3 | Shardul Amarchand Mangaldas & Co. (SAM) | Delhi | Leading in M&A, Capital Markets, and Dispute Resolution. | Split from Amarchand Mangaldas in 2015. |
| 4 | Khaitan & Co. | Mumbai | Elite M&A, Private Equity, and Investment Funds. | Strong independent national firm with deep corporate relationships. |
| 5 | Trilegal | Bengaluru/Mumbai | Highly regarded for Private Equity/VC, Projects, and M&A. | Known for its modern structure and focus on technology clients. |
| 6 | JSA (Juris Corp) | Mumbai | Leading in Corporate/M&A, Projects & Energy, and Dispute Resolution. | Strong national presence and highly reputed. |
| 7 | Luthra and Luthra Law Offices India | Delhi | Highly rated for Dispute Resolution, Project Finance, and Corporate Law. | Strong history in infrastructure projects. |
| 8 | IndusLaw | Bengaluru | Market leader in Technology, VC, and Startup Funding. Strong Corporate/M&A. | Go-to firm for India’s booming tech ecosystem. |
| 9 | Talwar Thakore & Associates (TTA) | Mumbai | Boutique expertise in M&A, Private Equity, and Banking & Finance. | Associated with UK Magic Circle firm Linklaters. |
| 10 | S&R Associates | Delhi/Mumbai | Elite boutique specializing in M&A, Capital Markets, and General Corporate Law. | High profitability and focus on quality control. |
🇮🇳 The Dynamics of Indian Big Law
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The M&A and PE Battle: The top four firms—Cyril Amarchand Mangaldas, AZB & Partners, Shardul Amarchand Mangaldas, and Khaitan & Co.—are engaged in a constant rivalry for the largest corporate mandates and have the deepest relationships with major Indian and foreign corporations.
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Technology Hub (Bengaluru): Firms like Trilegal and IndusLaw have capitalized on the exponential growth of the Indian tech sector. They dominate the fast-paced, high-volume market for Venture Capital (VC) funding rounds, advising unicorns and global investors.
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The “No Foreign Firms” Rule: Unlike many markets, foreign law firms are heavily restricted from practicing Indian law directly. This has led to the dominance of the independent Indian firms and created a unique landscape where global firms must rely on alliances (like TTA’s relationship with Linklaters) or partner with local counsel.
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Capital Markets: Mumbai-based firms are essential for the high volume of IPOs, rights issues, and debt listings on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
These top law firms are the legal architects supporting India’s status as one of the world’s fastest-growing major economies.