The proposed new law will retain the age of consent for sex at 18 years.
India's government has reportedly cleared lowering the age of consent for sex to 16 years.
The age of consent in Italy is 16, but people under 18 are considered minors.
They will also consider lowering the age of consent for sex to 16.
Parliament will be given an opportunity to vote on the age of consent.
He urged the House of Lords not to vote against reducing the gay age of consent from 18 to 16.
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The age of consent had been 16 years for three decades before the government raised it in its ordinance in February.
But clearly, India needs to do more to protect its girls and stop child marriages than raise the age of consent.
Many believe that raising the age of consent is fraught with risks.
He points to his own record of voting to reduce the age of consent for homosexuals to the same as for heterosexuals.
If this is true, three important laws on the age of consent, voting in European elections and war crimes will also have no legal basis.
His bill would "solely and simply" amend the Sexual Offences Act 2003 to raise the threshold from the current age of consent of 16.
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The bill, due to be debated in the House of Commons on Monday, is largely concerned with the equalisation of the age of consent.
Guernsey altered its laws regarding same-sex relationships in 2010, when the homosexual age of consent was lowered to 16 to match the heterosexual age.
Most countries now set the age of consent between 15 and 18 (sometimes higher for men than women) though it is as low as 13 in Spain.
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Raising the age of consent can have other unfortunate consequences.
MSPs unanimously approved the first stage of the sexual offences bill which reforms the law of rape and equalises the age of consent at 16, for boys and girls.
Raising the age of consent to 18 has placed India among the more orthodox countries in a world where the norm and the global average is around 16 years.
Conflating age of marriage for girls (18) with age of consent, says researcher Pallavi Gupta "negates any form of sexual freedom that young girls below that age group can exercise".
Over a century the age of consent in India has been raised from 10 to 18 reacting mainly to concerns over child marriage, and much later over rape and teenage pregnancies.
Invoking the heavy hand of the law does not serve justice (for instance, there is a great deal of diversity around the world about what constitutes the legal age of consent).
In some cases, known as statutory rape cases, children can be added to the sex offender registry for having consensual sex with a peer or a child below the age of consent.
Many fear that a higher age of consent could lead to young men being packed off to reform homes on the basis of complaints by the irate parents of the young women.
The government had proposed bringing it down to 16 again, amid fears that a higher age of consent would be " misused" by parents who disapproved of their daughters' consensual relationships with boys.
She argues for an end to complainant anonymity, a strict statute of limitations to prevent prosecutions after a substantial amount of time has passed and a reduction in the age of consent to 13.
"All that raising the age of consent to 18 years will do is to give society greater control over the lives of young people and young boys in consensual relations with girls, " says lawyer Vrinda Grover.
Stephen Close, 50, a former soldier from Salford, was convicted of gross indecency in 1983 because he had sex with another soldier when both men were under 21, which was then the homosexual age of consent.
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