India to liberalise legal services market

India is to press ahead with liberalising its legal services market, allowing foreign lawyers the right to operate in the country.

The announcement comes following the completion of talks between the Chancellor, George Osborne, and the Indian Finance Minister, Arun Jaitley, at the eighth UK-India Economic and Financial Dialogue (EFD).

The government hopes the agreements will build on the economic relationship between the UK and India.

It is expected the liberalisation of India's legal services market will act as a catalyst for international investment in the world's largest democracy and give businesses the access they need to international legal advice.

It is also hoped this will bring new opportunities for the UK legal profession, who will benefit from being offered similar rights to those that Indian firms already enjoy here, allowing them to enter partnerships with Indian firms and bring their specialist expertise to the Indian subcontinent.

Justice Minister Shailesh Vara said he was 'delighted' to see the progress made towards liberalising the legal sector.

'This is a cause that I have been championing personally for many years, ever since I saw the value liberalisation would bring when working as a solicitor,' he said.

'The UK's experience of an open legal services sector has been a hugely positive one, giving business the access it needs to international legal advice and helping make London the global legal hub it has become.'

Vara added that he was confident that India's decision be a real catalyst for bilateral trade and investment.

'My department stands ready to help the Indian government progress this important reform in any way that would be helpful.'