Dr Akhil Prasad – GC Powerlist
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India 2023

Industrials and real estate

Dr Akhil Prasad

Board member, group general counsel and company secretary | Boeing India

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India 2023

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Dr Akhil Prasad

Board member, group general counsel and company secretary | Boeing India

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?  

My current role encompasses being a member of the board of directors of Boeing India entities. Boeing conducts all businesses in India that it runs globally. Therefore, it was essential to set up a process that takes care of (a) risk management; (b) board governance and entity management; (c) compliance with all laws; (d) ESG. As regulations become more complex, the focus on these areas is absolutely necessary. In absence of local competencies in these areas, we aligned with various functions including finance, tax, HR, and administration, which are responsible for ensuring compliance of Indian laws, to set up a compliance function for India.  

 

What are the most significant cases or transactions that your legal team has recently been involved in? 

India is a huge opportunity for both civil aviation and defence. In recent times, Air India announced an acquisition of 470 airplanes and Indigo announced acquisition of 500 airplanes. In addition, in 2021, a new start up airline – Akasa acquired over 70 airplanes. Air India and Indigo have agreed to make the largest acquisition in aviation history. In the aviation sector, will need over 100 new airports and service infrastructure. Under Atmanirbhar Bharat or Self Reliant India, India’s defence industry will develop new platforms, products, and services, which is a huge opportunity for defence manufacturers like Boeing. Thus, Indian aviation is a sunrise industry, which will generate millions of jobs in very near future. I am blessed to be a part of this growth for India.  

 

If you had to give advice to an aspiring in-house lawyer or general counsel, what would it be and why?  

My advice would be that to be successful as a general counsel or in-house counsel, it is extremely important to understand the business of your client. One needs to upskill to develop a business mindset and should embrace the opportunity to do so. Be a strong partner to your clients, so that they reach out to you proactively. Develop trust and confidence in your client. 

Dr Akhil Prasad - India 2022

Director, country counsel and company secretary | Boeing India

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