ITC Business Council Highlights: Anchit Sripat

Anchit Sripat – Board Member of the Business Council for Legal.

Anchit Sripat, a distinguished Board Member of the Business Council for Legal within the International Trade Council, is a seasoned lawyer with an impressive track record in the legal industry. Anchit’s expertise extends to various facets of international trade, supply chains, and the complex dynamics of legal matters.

As a prominent lawyer, Anchit is at the helm of Asaya Legal, a forward-thinking full-service law firm that offers exceptional advisory, litigation, and dispute resolution services. Their clientele spans diverse industries and jurisdictions, including domestic and foreign commercial enterprises, financial institutions, start-ups, and individuals.

Anchit’s journey in the legal world is a blend of family heritage and personal passion. Growing up in a family of lawyers, he was immersed in the legal domain from an early age, igniting his interest and providing a strong foundation in legal knowledge. Anchit graduated from Amity Law School, Delhi, with additional credits in International Commercial and Trade Laws in 2017. Simultaneously, he pursued a Bachelor in Business Administration, gaining deeper insights into the intricate relationship between law and business economics.

His career commenced in litigation and dispute resolution, encompassing both domestic and international cases. Over time, Anchit honed his expertise in various practice areas, including company law, trade, insolvency and bankruptcy, real estate, consumer laws, contractual disputes, technology, and competition. Today, he provides strategic counsel to clients across diverse sectors, specializing in contracts, litigations, mediation, and commercial arbitrations. Anchit’s multifaceted background allows him to offer comprehensive legal solutions that bridge the gap between law and business, ensuring optimal outcomes for his clients.

Anchit’s professional accomplishments reflect his dedication and competence. He takes immense pride in establishing his law firm, a significant milestone in his career.

The legal industry has witnessed a transformation with technology playing a pivotal role. The emergence of digital platforms and technologies has reshaped the way legal transactions are conducted. Anchit highlights India’s “Open Network for Digital Commerce” (ONDC) as an example, which aims to establish an open and transparent digital network for e-commerce transactions. This technology-driven shift is leveling the playing field for businesses, particularly benefiting small and medium enterprises (SMEs) and local businesses.

However, challenges persist in the legal industry, especially when it comes to international trade. Anchit points out that despite India’s openness to foreign trade, complexities related to bureaucratic processes and document submissions pose hurdles for efficient cross-border trade.

In the next 5-10 years, Anchit envisions advanced digital trade and fewer barriers, further streamlining international trade processes. He’s particularly excited about the role of Artificial Intelligence (AI) in shaping the industry’s future.

For newcomers in the industry, Anchit advises embracing creativity and thinking outside the box, recognizing that innovation can lead to groundbreaking solutions.

In addressing setbacks and challenges, Anchit adopts a resilient mindset. He views failure as a learning opportunity, analyzing what went wrong and researching alternative solutions. This approach empowers him to grow stronger and more versatile in dealing with future challenges. Nanabhoy Palkhivala and Harish Salve serve as Anchit’s role models and inspirations in the legal field, guiding him in his professional journey.

Outside of his professional life, Anchit’s interests include the art of brewing and savoring exceptional coffee, as well as the thrilling world of Scuba Diving. Exploring the depths of the underwater world has added an exciting dimension to his life, where he can immerse himself in the wonders of the ocean.