There will be no significant impact of Brexit on India due to strengthening of India’s economic resilience on account of economic reforms undertaken by the government, industry body PHDCCI said.
“No significant impact of Brexit is seen on any sector of the Indian economy,” the chamber said in a statement.
Though financial markets volatility cannot be ruled out, it said India’s economic resilience has been strengthened on account of big bang economic reforms undertaken by the government to boost investment sentiments.
The reforms measures would mitigate the impact of adverse international economic developments, PHDCCI President Mahesh Gupta said.
He said the pace of India-EU and India-UK exports and imports will continue and achieve new growth trajectories in the coming times.
“India-EU trade is expected to touch USD 100 billion in the next two years by 2018 of which India-UK trade would post a USD 20 billion trade trajectory,” he said.
