The Bar Council of India has agreed to set out a timeline for the liberalisation of its legal market, with Law Society president John Wotton claiming that he has "never been as confident" that the long-awaited process is finally underway.

The first discussions will be held between the parties at the International Bar Association's annual conference in Dubai at the end of the month, with the Law Society hoping that the discussions will conclude by January, when a delegation from the Indian Bar Council is due to visit the UK.

Wotton's vote of confidence follows a visit by a UK Government trade delegation to India last week, which saw the Law Society and the Bar Council of England and Wales accompany Justice Secretary Ken Clarke to the country for meetings with local lawyers, officials and ministers, including Law and Justice Minister Salman Khurshid and India Bar Council chair Ashok Parija.

Following the discussions, Khurshid promised that legal market liberalisation would be fast-tracked through India's Parliament, as the country attempts to seize the opportunity to establish itself as a new Asian legal hub.

The liberalisation of the Indian legal market has been long-awaited by UK firms with international ambitions, with many firms having been forced to walk a regulatory tightrope with regards to what foreign lawyers are permitted to do in the country.

In February last year Ashurst closed its liaison office in Delhi after the Bombay High Court ruled against the practice of law by foreign firms in India, while the following September the Indian Bar Council stated that it had "decided not to permit foreign lawyers into India".

However, following last week's trip, Wotton said: "There are a number of differences this time. Firstly, we have the very active investment of time in the issue from the UK Government, but most importantly this is the first time that the Indian Law Minister has said he will fast-track discussions on market liberalisation."

He added: "Both Governments have realised that change is inevitable and desirable and can bring benefits for the legal profession in both countries. Indian economic growth has continued with Indian companies becoming world leaders who need access to international legal advice. This development is giving India the opportunity to become a legal centre in Asia."