Delhi : The UK India Business Council (UKIBC) has praised India’s Finance Minister Nirmala Sitharaman and the government for promoting foreign investments and fiscal stability in the Union Budget 2024-25.
The UKIBC praised the Modi government’s proposal to reduce the corporate tax rate on foreign companies from 40 to 35%, stating that this would encourage foreign investors and help unlock higher levels of international investment in India. The UKIBC also urged the public to note the announcement on foreign direct investment (FDI) and look forward to the details once published.
The Indian government’s ambitious plan for ‘Viksit Bharat’ (Developed India) by 2047 is supported by the UKIBC and its members, who can play a strong role in key priority areas such as employment, skilling, energy transition, manufacturing, and R&D. The UKIBC also commends the Indian government’s strong economic growth promotion while delivering fiscal stability and inflation management. The UKIBC sees India as a strategic partner in its R&D, technology, talent, and supply chains.
