16 December , 2021 Fdiindia
Atmanirbhar Bharat Is a Great Business Opportunity: UKIBC Report
The UK-India Business Council has said that the most UK corporates see the Indian business environment improving with excellent opportunities for economic partnerships available under the ‘Atmanirbhar Bharat’ campaign.
According to the 7th Annual Doing Business in India report by the Council, more than half of UK companies continue to be steadfast in their intent to operate, manufacture, assemble and trade with India.
The data was gathered from a survey of 147 UK business representatives, who shared their viewpoints and experiences regarding the Indian business climate.
They remain eager to support India’s development and global expansion plans, and furnished productive recommendations to make India a more compelling destination for international investors.
“UK businesses are significant FDI investors in India, employing hundreds of thousands of staff across every state, making and innovating in India, exporting from India, and contributing hugely to the achievement of the sustainable development goals,” said UKIBC Managing Director Kevin McCole.
The Union government’s commitment to achieving a ‘facilitatory India which is investor-friendly and business-friendly’ and continuous aim to ‘make it easier and simpler to do business in India’ was highlighted by Rajendra Ratnoo, Joint Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, at the virtual event.
He added that, as mentioned in the UKIBC report, India is focusing on the ease of doing business in the country, sparked by PM Narendra Modi’s determination to make India self-reliant through reforms to support domestic business growth.
“An active and open dialogue between businesses and the government is critical to a successful and dynamic business environment. As those with experience on the ground, businesses are best placed to share feedback, and we sincerely welcome the Government of India’s responsiveness and willingness to engage with businesses on that feedback at various meetings with the UKIBC in recent weeks,” said Richard Heald, Executive Chair, UK-India Business Council.
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