Indian industrialist Laxmi Niwas Mittal is going to shift back to India after 30 years? In 1995, he shifted to Britain due to business. Despite this, he still has a bungalow in Delhi's Lutyens Zone. In such a situation, when there are reports of his leaving Britain, the question related to returning to India becomes important. What is the reason for his leaving Britain? Is there any connection with the decline in Britain's economy and the continuous growth of India's economy.

There have been reports of 'ArcelorMittal' owner and steel king Lakshmi Mittal leaving Britain when Britain's new Labor Party government has launched tax reforms in the country. According to the report of Financial Times, Lakshmi Mittal can leave Britain and go to some other country soon.

What is the tax reform of labor party?

The Labor Party government in the UK has now finished the 'non-domisic regime'. In Britain's tax system, it used to benefit some special British residents. With this help, these British residents did not need to pay British tax on their foreign earnings and capital gains.

The Financial Times quoted a friend of Lakshmi Mittal as saying, "He is considering other options. However, the final decision will be taken this year. There is also every possibility that he leaves Britain's Tax Residentship."

7th rich man of Britain

Laxmi Mittal has about 40 percent shares of 'ArcelorMittal'. According to Sunday Times, he is the 7th richest man in Britain. About 4 years ago, he resigned as the Chief Executive of 'ArcelorMittal' for his son Aditya Mittal.

By the way, after the tax reform in Britain, many big businessmen there have moved in tax -friendly Country Italy, UAI and Switzerland etc. In such a situation, it will not be shocking to leave Lakshmi Mittal to Britain.

Will Mittal return to India?

No confirmation can be made about Lakshmi Mittal returning to India. Nevertheless, a large base of his business is present in India. A.P. of Delhi J. He has a bungalow on Abdul Kalam Road. Not only this, the economy of India is constantly growing, while Britain is in the grip of recession. In such a situation, there is a better scope in India for ArcelorMittal due to business possibilities.