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Indian companies need not worry about Brexit: UKIBC Chair
Mar 15, 2019

India-UK business relationship is going through an uncertain phase with no clarity on Brexit. While UK’s domestic politics keep Indian businesses with presence in that country on tenterhooks, UK businesses are looking for more clarity in the Indian regulatory environment and faster approval processes.
 
Lord Davies of Abersoch, Chair of The UK-India Business Council (UKIBC), in an interview with BusinessLine shared his thoughts on challenges that India-UK trade relationship is facing and the opportunity ahead. Excerpts:
 
London has been the gateway to Europe for many Indian investors. Do you think that will change with Brexit?
 
I want to say upfront that I am a ‘Remainer’ and I'm also in favour of a second vote. These negotiations have been so complicated that everybody now realizes how intertwined the UK was with Europe, so to disentangle this is an incredibly difficult and complex situation. Nonetheless, the UK will always be a gateway to Europe. Has Brexit caused a slow down and has it caused people to hesitate, absolutely it has. If we crash out of Europe without a deal, then it will be catastrophic for the UK, nonetheless, the UK has a huge competitive advantage. I don't think Indian companies need to worry. In over the next decade, I see India-UK trade grow exponentially. My message to Indian companies is to be patient.
    

The Hindu Businessline

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