Effect of Brexit on the Indian service sector

Abstract

A long-driven issue of the UK separating from EU has finally taken place on 31st Jan 2020. After three years of discussions in the UK Parliament, convulsions at the top of the government and pleas for Brussels to delay its exit, Britain closes the book on nearly half a century of close ties with Europe on Jan. 31. India is one of the top investors in the UK. There are ~800 Indian-owned companies in the country employing ~110,000 people. In Nov’15, Prime Minister Narendra Modi has said, “As far as India is concerned, if there is an entry point for us to the EU, that is the UK.” Interestingly, the UK is also one amongst just seven nations with whom India enjoys a trade surplus.