UKIBC expects corporate tax cut and labour reform in Union Budget 2018

BUDGET 2018 - The UK India Business Council (UKIBC) and Confederation of British Industry (CBI) has appealed to the finance minister to reduce corporate tax and remove FDI restrictions on certain sectors in the forthcoming Budget.

"We have urged the government to reduce corporate tax, and a simpler and more predictable tax regime that encourages UK investments in India. We are also seeking more labour reforms and simpler ease of doing business in India, which provides huge business opportunity for British companies," UKIBC chief operating officer Kevin McCole told PTI here.

More than any other country, UK businesses are taking the investment opportunities in India. The UK is the largest G20 investor in India, with around USD 24 billion invested in the country. At the same time, India is the fourth largest destination for investments from UK companies.