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Brexit may not have much impact on India!

By   /  June 24, 2016  /  Comments Off on Brexit may not have much impact on India!

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Brexit text with British and Eu flags illustration

The people of Britain have chosen to stay away from European Union – a group of 28 countries that have come together to create common market, despite the David Cameron’s government being against it. After the formation of European Union, as the countries worked as one, they created a GDP almost equal to the US. Britain was a part of European Union and not a part of euro zone that shared common currency – the Euro.

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The Brexit advocates had many reasons including the restriction to sovereignty and autonomy in policy formulation, fear of loss of jobs as within the EU nations it was all about free migration to get out of EU, and they felt that the annual fee is not worth paying.

Now that the decision has been made various analysts are at work deciding the damage caused by the decision to Britain and world economy as a whole. As far as India is concerned it would only be peripheral impact say experts. At micro level the rupee may be jittery but since its more dependent of dollar, the impact will be less, and the same is true for stock markets. There may be the initial price fluctuations that can be seen on gold etc, but generally it will stabilize soon. It may only be they companies working in Britain that need to rethink, and keep an eye out to any major changes that may crop up.

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