UK businesses 'encouraged' by Budget focus on growth, trust-based approach

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UK businesses 'encouraged' by Budget focus on growth, trust-based approach - Business Standard

Quick Summary:

The Union Budget tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha on Saturday has been received with much enthusiasm within the UK business and investor community, with the focus on economic growth, boosting private investment and a trust-based economic governance approach being highlighted among some of the stand-out proposals.

Richard McCallum, CEO of UK India Business Council (UKIBC), highlighted a focus on simplifying conditionalities associated with foreign direct investment (FDI), skilling and policy reforms among some early takeaways.

I'm encouraged by the focus on economic growth, on invigorating private investment [because] we do need more private investment for growth to be sustainable, on skilling and stimulating more consumer spending.