In Conversation With Vidushi Gupta, Partner, Khaitan & Co| BW Legal World 40 Under 40

Many Congratulations on winning the BW Legal World 40 under 40. How was your experience interacting with the Jury and of the event?  

 Thank you so much. It was indeed a pleasure being part of the entire process. The whole event was thoughtfully curated with multi-layered assessment. The interaction with the eminent jury, especially the pitch meeting which seemed like a rapid-fire, was insightful and enriching. 

Please walk us through your journey in the field of law? When did you first realize that law was your life’s calling?  

 I come from a family of lawyers and judges. My great grandfather was a judge, my grandfather was a lawyer, my father was a judge, so I guess, the interest naturally trickled down to me and I became a lawyer. 

I studied at National Law university, Jodhpur (where, incidentally I also met my life partner!). Got a pre-placement offer with Luthra & Luthra and subsequently joined Khaitan & Co. I have completed almost 8 years in Khaitan and more than a decade in the profession. Got elevated to partnership in the year 2020-21 (which incidentally coincided with my promotion to motherhood :)). Basically, my journey in the field of law is intricately linked to my personal life and I look forward to creating more milestones and memories along the way. 

What would you say has helped you emerge as a leader in your industry and what advice would you have for others who want to set off in a similar direction?    

Our profession is quite demanding and takes some effort to settle in initially. To tell you the truth, during the first three years of my professional life I kept thinking if I am a good fit to this profession and if I can survive this. During this period, support from my family and friends gave me that little push that I really needed. Once I passed that phase of my life, I realised that we may not know everything in law but having the right attitude is the most important. Equally important is the skill to remain composed in stressful situations and not let the stress trickle down to people around you. With this renewed attitude, I set a vision for myself and started taking small steps towards it. 

In a nutshell, I would say, positive attitude, perseverance and empathy are the key factors to make a mark in the long run. I also really believe in having a holistic life. So, as long as you are professionally determined and enjoying life, there is no limit to success.  

We have seen a spate of legislative changes in recent years that have been monumental in reforming India’s legal framework across all sectors. Would you please highlight a recent development concerning your practice area that has positively impacted the industry?   

I think reforms around financial inclusion have been a game changer, especially for the financial services sector. These reforms are focussed on reaching the lives of people, who need these the most. We now have a modernised and digitised payment infrastructure, various schemes to empower the underbanked/ unbanked population, paperless customer authentication and varied product offerings. All these reforms are significantly evolving the financial services sector in India, leading to broader market coverage, strengthening fintech companies and making the sector even more attractive for investment and deal making. 

What are the top three trends that are going to rule the legal sector for the next five years? 

1. Reforms to boost investments – Today India is being identified as the bright spot despite the global challenges. I believe, there will be further reforms to liberalize foreign investment and investment by financial sponsors, such as further relaxation of foreign investment rules and the long-awaited amendment to allow private equity funds to be the sponsors for mutual funds. At the same time, I also foresee increasing domestic investment bolstered by the ‘Make in India’ initiative.  

2. Privacy and human rights – The buzzword around is the recognition of privacy in digital and the physical world. On the one hand, we will soon witness the new data protection law, which will impact various industrial sectors, and on the other hand, we will see positive moves towards diversity. We have, in fact, already seen progressive developments towards legalisation of same sex marriage, better recognition of LGBTQ rights and I think transformations like these are here to stay.  

3. Entry of foreign law firms into India – Last but not the least is the entry of foreign law firms - I think it will be pretty interesting to witness this liberalisation unfold. It definitely has the potential to benefit the clients and the service providers, both, qualitatively and from a pricing perspective.                

Who according to you has been your guide and mentor in this illustrious journey as a lawyer?

I have had multiple mentors throughout my journey. Parents being the very first life-mentors and, of course, the seniors I have had the opportunity to work with. I have had the good fortune to work with some great minds and remarkable human beings – which I am really grateful for.  

I try to imbibe the qualities of the people around me. At the same time, I also try to avoid the traits I do not appreciate – so, practically all of them have guided me in one way or the other. 

As a parting note, would you please recommend a favorite book that left a lasting impression on you? What has been your most recent read? 

 I am actually not an avid reader. Out of the few books I have read, I found “Who Moved my Cheese?” by Spencer Johnson, impactful – this is a short story demonstrating how to deal with changes in work and life positively. When I was last looking for a book to read, “Tuesdays with Morrie” by Mitch Albom and “Kitchen Confidential’ by Anthony Bourdain, came highly recommended by friends. I have recently finished reading “Tuesdays with Morrie” – this is a great read about compassion, life and human relations and I plan to read ‘Kitchen Confidential’ soon.