How Will Brexit Affect India?

Many of the Indian companies might need to do some serious contingency planning were Britain to exit the EU.

There are over 800 Indian companies in the UK employing over 1,10,000 people. (Photo: BloombergQuint)

On 23 June, the British people will decide to ‘leave’ or ‘remain’ in the European Union.

The UK has always been touted as an attractive investment destination because of the access that it provides to European market of more than 500 million people.

There are over 800 Indian companies in the UK employing over 1,10,000 people, according to a Grant Thornton report. The report also says that the top fastest-growing Indian companies in UK generate over 26 billion pounds of turnover.

Many of these companies might need to do some serious contingency planning were Britain to exit the EU. They may want to consider another European city instead of London as their entry point into Europe, so as to continue to enjoy free trade and workforce mobility. For many, Brexit will hurt Indian bottomlines too.