New Delhi, Aug. 14 -- NITI Aayog has suggested modernising India's legal services regulatory framework by considering multi-disciplinary law firms, revisiting restrictions on advertising by lawyers and bringing greater clarity to rules governing foreign participation in the sector.

In its report, India's Services Sector: Insights on Regulatory Regime in Professional Services, NITI Aayog said that permitting law firms to operate as multi-disciplinary practices (MDPs), with appropriate safeguards, could help Indian legal service providers adopt modern business structures and compete globally.

"To support evolving business needs, permitting law firms to operate as multi-disciplinary practices (MDPs), subject to safeguards such as i) restri...