We all know that now BREXIT is finally going to happen but what What will be the effect of #BREXIT on India and #IndianEconomy?
EU to push for free trade pact again
EFFECT ON INDIA Firstly, the massive selloff of the British pound that followed Brexit resulted in a roughly 8% decline of the currency relative to the Indian rupee. Financial experts predict the plunge to continue before the pound stabilizes, making it considerably less expensive for Indians to travel and study in the UK.
The falling currency also presents cheaper real estate options for Indian citizens and companies seeking property in the UK’s notoriously expensive property market. Second, Brexit will likely compel London to seek a more robust trade relationship with New Delhi.
Britain and India have been so far unable to reach a free trade agreement, with negotiations having become mired in the convoluted financial politics of the 28-nation EU bloc.
Now unencumbered by the rest of the EU, the UK will aim to boost trade ties with India and other similarly situated countries. With India’s economy outperforming all of its counterparts, the erstwhile crown jewel of the British Empire appears to be shimmering brightly once again from London’s view. What will be the impact of BREXIT on India and Indian economy?
Brexit impact on India, Brexit impact on Indian economy