Bengali diaspora feels Brexit jitters

Kolkata: British expatriates residing in Kolkata, those with business interests in the country and the sizeable Bengali diaspora in the UK are in a shock over the leave call in the Brexit referendum.
Paul Walsh, who quit the British diplomatic service to stay in Kolkata and promote rugby, was still reeling when TOI caught up with him hours after the result came in.“Everyone is dismayed. Coming up to the referendum, we all knew that voting to leave was a possibility.
Yet, many had hoped otherwise. Project European Union needed to be reformed. But this isn’t the way to do it,” he felt. With Scotland and Northern Island voting in favour of staying in the EU, Walsh sees another Scottish referendum and impact on the Northern Island peace process. “This could signal the end of UK,” he rued.
The exit is expected to be a complicated legal and political process that may take two-three years. Chef Shaun Kenworthy, who is now settled in Kolkata, says the intervening years will be fraught with uncertainty.
“People are confused over what happens next . I think people really didn't understand the choices. The working class and poor voted in favour of leaving because their lives haven't been good in a long time. They have seen jobs go and wages drop. They are not interested in the bigger picture. But the irony is that they may be the worst impacted if manufacturing is hit by Brexit,” said Kenworthy, who is from Manchester, a working class town where people voted to leave.
Sujata Sen, who was the eastern India director of British Council before joining Future Hope as CEO, felt it was certainly not happy news for those with business interests in the UK. A lot of Indian businesses are based in London to access the EU. That advantage could now disappear. "Indians are among the biggest investors in UK. English language and familiarity with British culture are comfort factors but access to a big market beyond UK's borders is the primary reason," she pointed out.
Kolkata-headquartered Apeejay Surrendra group has Typhoo Tea in the UK. RP-Sanjiv Goenka group’s BPO business Firstsource Solutions also has a major presence in the UK. “We face massive changes and huge decisions. There are extremely longterm consequences. After Cameron steps down, his successor has to articulate the new policies quickly. For businesses, the exchange rate is critical,” said Apeejay Surrendra group chairman Karan Paul.
The Tata group that is invested heavily in the UK with Jaguar Land Rover and Corus Steel put up a brave front. While it did not comment on Corus, it claimed business was usual at JLR. “JLR will manage the long-term impact and implications of this decision. Nothing will change for us, or the automotive industry, overnight," read a statement. Four out of five cars made in Midlands and Liverpool are exported, one to EU and three others to rest of the world.
Sisir Bajoria, who is in London, found the mood despondent. “It will take time for the implications to sink in. London had voted overwhelmingly to stay. The disappointment, therefore, is palpable,” said Bajoria, who has a refractory unit in the UK as well as Germany which will now be leveraged to access EU markets.
Ananya Majumder, a resident of London with a small leather goods retail business, is apprehensive about what happens next as are other members of the 30,000-strong Bengali diaspora. The worries include the future of their children and whether they will be able to land jobs in Britain, now that it has shut the door on the rest of Europe. Biswajit Dhar, professor of economics at Jawaharlal Nehru University, believes it’s not all bad, particularly for India. “Trade between India and the UK has been fairly stable. This sharply contrasts with India’s total trade with EU members, which is on the decline.
Historical relationship still plays itself out in the realm of trade,” he said. Soumya Kanti Ghosh, chief economic adviser to SBI, also held the view that free from EU rules and encumbrances, Brexit-UK would have far greater latitude to negotiate with India.
— With inputs from Suman Chakraborti & Dwaipayan Ghosh