The perception of UK businesses of corruption as a barrier to operate in India has halved since 2015 and 46 per cent of companies have plans to expand investment in India in the next 12 months, a report by UK India Business Council (UKIBC) said Monday.
The roll-out of GST was also cited as a contributor to the improved operating environment with those optimistic about the reform doubling on 2017, overturning initial caution around its implementation in the last year's report, the UKIBC's Ease of Doing Business Report said.
"UK businesses' perceptions of corruption as a barrier to operating in India has halved since 2015," it said.
However, it added that there is still room for improvement in important areas.
"Most notably in the quality of bureaucracy which saw little improvement," it said.
It will take time for reforms introduced at the top of government to filter to every corner of the Indian bureaucratic machine, the report said adding "UK investors would like to see continued efforts to improve this aspect of the operating environment across states".
Further it said that since 2000, the UK has been the largest G20 investor in India, investing 17.5 billion and creating 3,71,000 new jobs.