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India tops ranking of most attractive investment destinations for UK

Industry News | | MIC Customs Solutions |

A new report from EY has shed light on the number of UK businesses looking to increase their investment in the Indian market in the coming years.


UK companies are looking to India as the most promising destination for increased international trade investment over the coming years, according to a new report.

Published by EY, the study ranked India as the most attractive investment destination in the world for the next three years, based on the views of 500 decision-makers from multinational organisations, including more than 50 business leaders from UK-based companies.

It was indicated that 32 per cent of business leaders from global corporations said India is the most attractive investment destination, rising to 36 per cent among UK-based investors. It edged out China and Brazil for top spot, with 63 per cent of UK respondents ranking the country among the top three investment destinations in the next three years.

Around 60 per cent of UK-based companies are looking to enter the Indian market or expand their existing operations in the region over the next year, following a 600 per cent increase in UK foreign direct investments to India in the first six months of 2015.

Key factors that are making the market more attractive to international companies is its ongoing tax and regulatory reforms, its low labour costs and surplus of skills, as well as the health of its domestic market and macroeconomic stability.

The survey also showed that India has made significant gains over the last year in terms of attractiveness, thanks to efforts to improve the ease of doing business, as well as recent foreign direct investment policy reforms.

Rajiv Memani, chairman of the global emerging markets committee at EY and regional managing partner for India, said: "The survey findings are a testament to India's growing appeal with the global investment community.

"Over the last year, the improvements in India's macroeconomic indicators, accompanied with the ongoing efforts to revitalise growth, have offered new hope to investors. It is an encouraging start and we need to build upon it further."


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MIC - Customs and Trade Compliance Software Solutions worldwide

Multinational companies are facing greater compliance challenges when addressing the continuously evolving international legal requirements. Customs and trade compliance management has a significant impact on production location and purchasing decisions, delivery times, cost savings and competitive advantages. Thus, it is crucial to establish processes that are accurately, effectively, and efficiently managed utilizing proven global IT solutions.

The international requirements for companies regarding customs and trade compliance management are complex and subject to ongoing legal changes covering a multitude of topics, such as: Correct product classification, compliance with export control regulations, numerous sanction list screenings, calculation of origin based on ratified free trade agreements, supply chain security initiatives, and management of special customs regimes as part of the import and export clearance processes. In addition, country-specific legal requirements that include legislative and technical changes make it increasingly difficult to completely fulfill the requirements of international customs and trade compliance.

A partnership with MIC strengthens a company’s ability to deal with the daily operational challenges of international customs and trade compliance management. MIC has a trendsetting Global Trade Management (GTM) software solution that allows companies to standardize and automate their customs and trade compliance processes. MIC’s software solution is available on 6 continents and can be configured according to the company’s specific needs to significantly improve legal compliance, thus saving time, money, and eliminating future business disruptions.

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MIC Global Trade Management (GTM) software helps companies maintain international visibility and to take advantage of these program changes in legislation. We know the intricacies of national and regional customs and export control requirements. Our software takes account of the respective regulations and uses similarities in global customs and export control law. This is done in 55+ countries on 6 continents with regularly updated trade content for 150+ countries. In addition, our data analytics & visualization tool enables improved decision making by identifying optimization potentials and supply chain trends across global customs and trade compliance processes. As a result, global business processes can be designed and automated more efficiently. This not only increases compliance, but also saves time, money and increases global competitiveness.

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