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USISPF, Indian Consulate host legal reforms forum in Chicago
The gathering opened with a minute of silence in tribute to the victims of the terrorist attack in Pahalgam, Jammu & Kashmir.
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Malvika Choudhary - Tue, 29, Apr 2025
- 16:27 EDT
- 69
Panel at the event / X (India in Chicago)
The Consulate General of India in Chicago, in collaboration with the US-India Strategic Partnership Forum (USISPF), convened a high-level roundtable featuring leading legal and business experts from both the United States and India on April 29.
Titled “Understanding Recent Legal Changes in India: Implications and Opportunities for Foreign Partners,” the event brought together senior judges, corporate lawyers, and industry leaders to examine India’s evolving regulatory landscape and its impact on cross-border partnerships.
Also Read: USISPF and CII host inaugural US-India Economic Forum
The gathering opened with a solemn minute of silence in remembrance of the victims of the April 22 terrorist attack in Pahalgam, Jammu & Kashmir.
The Consulate, in collaboration with the US-India Strategic Partnership Forum (USISPF), hosted a discussion on “Understanding Recent Legal Changes in India: Implications and Opportunities for Foreign Partners.” The event brought together business leaders, and top corporate law… pic.twitter.com/kfbWhwNRoJ
— India in Chicago (@IndiainChicago) April 28, 2025
In his opening remarks, Consul General Somnath Ghosh underscored India’s commitment to legal reform, emphasizing efforts to enhance the ease of doing business, promote innovation, and open new investment avenues for U.S. law firms and multinational stakeholders.
The panel featured distinguished speakers, including Justice Sanjay Tailor of the Illinois Appellate Court (First District); Shoba Pillay, partner at Jenner & Block; Collin Vierra, partner at EimerStahl; Priti Suri, founder and managing partner of Priti Suri & Associates; Charandeep Kaur, partner at Trilegal; and Dhruv Suri, partner at PSA Legal Counsellors.
Panelists discussed India’s latest legal and policy shifts, highlighting efforts to align with global standards and the implications for foreign businesses and law practices.
Among the reforms discussed were significant changes to India’s foreign direct investment (FDI) policies. The government has proposed raising the FDI cap in the insurance sector from 74 percent to 100 percent and is considering allowing up to 49 percent foreign equity in domestic nuclear power ventures — a marked departure from past policy.
These legal reforms form part of a broader initiative to create a transparent, predictable business climate. Recent updates from the Reserve Bank of India provide greater flexibility for foreign-owned and controlled companies, while tax incentives for International Financial Services Centres (IFSCs) have been extended until March 31, 2030.
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