Chancellor George Osborne should think about cutting the top rate of income tax, Boris Johnson said on Friday as he praised India for having a more attractive regime for entrepreneurs.

The London Mayor said the Chancellor should "brood" on whether the top rate of tax - which currently stands at 45% - should be cut.

He said he met Mumbai-based businessmen this morning, who asked him whether London could be made more attractive to foreign investors through lower rates of tax and less regulation.

In reply, Johnson said the tax regime "needed to be looked at".

Speaking at the Bombay Stock Exchange on the final day of his tour of India. Johnson said: "You've got tax rates here of only 30% - a point George Osborne might like to brood on.

boris johnson

Johnson made the comments in a speech at the Bombay Stock Exchange

"It's 10% for freelance income, and of course you have a market of about 600 million people under 25."

In interviews with reporters afterwards, he added: "One businessman said to me this morning that he loved London, he loved the quality of life in London. There are so many attractions of living in London that you can't find anywhere else. That is a very high card.

"But another businessman asked about making London more attractive in terms of tax and regulation and certainly the tax regime. As I have said many times before, that needs to be looked at."

After an hour and a half of speeches at the stock exchange, Johnson posed with the bull statue at its main entrance, gripping its horns as if he was a rodeo rider desperately clinging on.

boris johnson

Johnson urged the Chancellor to consider the cut during his tour of India

He then headed to the Gateway of India, an 85ft (26m) basalt arch which stands in Mumbai's harbour, to pose for pictures with a British-made Brompton bike.

He tried somewhat unsuccessfully to pedal through the large crowds of tourists and hawkers in the midday heat as photographers tried to keep up.

After just missing a couple of street vendors, Johnson rode into a cordoned-off section of promenade in front of the arch.

But a group of soldiers with large sticks said filming was banned in the area and ordered the cameramen to stop taking pictures immediately, bringing an abrupt end to the photocall.

This afternoon, Johnson heads to a television studio for an interview with India's equivalent of David Letterman when he appears on Times Now with Arnab Goswami.

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  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson at the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 6

    London mayor Boris Johnson rides a bicycle around the Gate of India in Mumbai, after meeting business leaders at the Bombay Stock Exchange, as part of a week long tour of India where he is trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson takes a walk through the streets of Mumbai today after playing cricket with local Mumbai school boys on Juhu beach.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson takes a walk through the streets of Mumbai today after playing cricket with local Mumbai school boys on Juhu beach.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson arrives at the Magic Bus Project in Mumbai today with England cricketer Kevin Pietersen (right) and former rugby player Lawrence Dellaglio (far right).

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson takes a walk on Juhu beach in Mumbai today where he played cricket with local Mumbai school boys after meeting Bollywood film directors.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays the 'Ball Game' with former rugby player Lawrence Dellaglio and local children involved in the Magic Bus Project in Mumbai today.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson takes a walk on Juhu beach in Mumbai today where he played cricket with local Mumbai school boys after meeting Bollywood film directors.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson hands out sports equipment to local children involved in the Magic Bus Project in Mumbai today.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays the 'Ball Game' with former rugby player Lawrence Dellaglio and local children involved in the Magic Bus Project in Mumbai today.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays the 'Ball Game' with former rugby player Lawrence Dellaglio and local children involved in the Magic Bus Project in Mumbai today.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays the 'Ball Game' with former rugby player Lawrence Dellaglio and local children involved in the Magic Bus Project in Mumbai today.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays cricket with local Mumbai school boys on Juhu Beach in India today after meeting Bollywood film directors.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays cricket with local Mumbai school boys on Juhu Beach in India today after meeting Bollywood film directors.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays cricket with local Mumbai school boys on Juhu Beach in India today after meeting Bollywood film directors.

  • Boris Johnson visits India - Day 5

    Mayor of London Boris Johnson plays cricket with local Mumbai school boys on Juhu Beach in India today after meeting Bollywood film directors.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson chats with Indian and British businessmen and women at a reception hosted by the Mayor in Mumbai to promote the UK's 'GREAT' campaign promoting British trade.

  • Boris Johnson visits India - Day 4

    England cricketers Stuart Broad (left), James Anderson (2nd left), Kevin Pietersen (2nd right) and Matt Prior (right) pose for a photograph with Mayor of London Boris Johnson at a reception hosted by the Mayor in Mumbai, India.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson flies to Mumbai in India from Hyderabad with his staff, Will Walden, Press Secretary (back) and Ben Gascoigne, Private Secretary (right) and Evening Standard reporter Pippa Crerar (left),where he met various business leaders.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson flies to Mumbai in India from Hyderabad with his staff, Will Walden, Press Secretary (back) and Ben Gascoigne, Private Secretary (right) and Evening Standard reporter Pippa Crerar (left),where he met various business leaders.

  • Boris Johnson visits India - Day 4

    England cricketers Stuart Broad (left), James Anderson (2nd left), Kevin Pietersen (2nd right) and Matt Prior (right) pose for a photograph with Mayor of London Boris Johnson at a reception hosted by the Mayor in Mumbai, India.

  • Boris Johnson visits India - Day 4

    The England cricketer team pose for a photograph with Mayor of London Boris Johnson (centre) at a reception hosted by the Mayor in Mumbai, India.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson talks to England cricketer Kevin Pietersen (right) at a reception hosted by the Mayor in Mumbai, India.

  • Boris Johnson visits India - Day 4

    England cricketers Stuart Broad (left), James Anderson (2nd left), Kevin Pietersen (2nd right) and Matt Prior (right) pose for a photograph with Mayor of London Boris Johnson at a reception hosted by the Mayor in Mumbai, India. PRESS ASSOCIATION Photo. Picture date: Wednesday November 28, 2012. Mr Johnson is on a week long tour of India where he will be trying to persuade Indian businesses to invest in London. See PA story POLITICS Johnson. Photo credit should read: Stefan Rousseau/PA Wire

  • Boris Johnson visits India - Day 4

    England cricket captain Alastair Cook takes a photograph of himself and Mayor of London Boris Johnson (right) at a reception hosted by the Mayor in Mumbai, India.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson speaks to business leaders at Infotech in Hyderabad today where he earlier met government ministers and other high tech businesses in Hyderabad. Mr Johnson is on a week long tour of India where he will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson flies to Mumbai in India from Hyderabad where he is on a week long tour and will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson flies to Mumbai in India from Hyderabad where he is on a week long tour and will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson speaks to the media after visiting Infotech and other high tech businesses in Hyderabad. Mr Johnson is on a week long tour of India where he will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson flies to Mumbai in India from Hyderabad where he is on a week long tour and will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson speaks to the media after visiting Infotech and other high tech businesses in Hyderabad. Mr Johnson is on a week long tour of India where he will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Mayor of London Boris Johnson arrives at the Indian School of Business in Hyderabad where he met students and business leaders. Mr Johnson is on a week long tour of India where he will be trying to persuade Indian businesses to invest in London.

  • Boris Johnson visits India - Day 4

    Hyderabad's Rajiv Gandhi Airport in India.