UK firms say India has become easier for business, want solution to tax row

Annual report on UK companies says retrospective amendment to India's Income Tax Act is a dampener.

Companies in the UK find it easier doing business in India. But they also find the regulatory and legal hurdles, including those relating to the goods and services tax (GST), along with corruption, as major areas of concern, revealed a survey of 106 UK organisations operating in India, spanning manufacturing, services, and higher education.

The 'Doing Business in India Report 2020' by the UK India Business Council (UKIBC), formally launched by UK Investment Minister Lord Gerry Grimstone at a virtual round table  with Indian industry titans on Thursday, finds regulatory uncertainty - including retrospectivity of taxes - as a dampener