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1800 sft Plug & Play Space in Koramangala with around 15 WS, 1 cabin, 1 meeting room and conference room available for immedate rent. Call 8904632470

Plug & Play Office of 3300 sft in Koramangala 5th Block with 32 WS , cabins, meeting rooms available for immediate lease.

Call -9972810600

Global consequences of Brexit

1. Brexit would be the strongest repudiation of the post World War II consensus favouring global integration. The consensus is already fraying against the backdrop of increasing protectionism and anti-immigrant sentiment worldwide. Brexit will only add to this sentiment.

2. It could undermine global growth prospects. The EU is the largest trading partner for many countries such as India and China. Any unravelling of the EU market means uncertainty as it is an export destination and this is likely to have an impact on exports from all major parts of the world. For example, at present exports to the UK account for 0.7 % of Asian countries’ GDP. Some studies estimated that a Brexit would reduce British imports by 25% worldwide within two years.

3. If Britain votes to leave, investors will rush to safety and precipitate unpredictable moves in global markets as capital moves from risky assets (possibly emerging markets) to safer havens.

4. Much of the EU’s money comes from its member states. And the UK is one of the larger contributors. A British exit from the EU would rock the Union by ripping away its second-largest economy with one of its top two military powers and by far its richest financial centre. This could also give rise to more nations contemplating exit from the EU. Greece, for example, held a referendum last year when its citizens overwhelmingly rejected EU’s bailout norms. Many Britons working within the vast EU bureaucracy would have to look for alternate employment.

Consequences for India

1. India sees the UK as a “springboard” or “gateway” into Europe. Many Indian companies are listed on the London Stock Exchange and many have European headquarters in London. (According to Indian government numbers, there are 800 Indian companies in Britain). Brexit will take away this advantage.

2. India has been negotiating a free-trade agreement with the EU since 2007 and a “yes” vote for Brexit will have a direct bearing on this. If Britain stays put, then India need not rework its strategy. If Britain leaves, then this will mean that India will need to negotiate a separate pact with the UK.

3. Brexit can affect India’s flagship IT sector given that the UK accounts for 17% or one-sixth of the sector’s global exports that topped $100 billion (approximately Rs.6.70 lakh crore). For one, Brexit will increase overhead costs, setting up new headquarters, perhaps in both Europe and Britain.

4. There are some who see an advantage for skilled migration from India to Britain, thanks to Brexit. But given that one of the arguments in favour of Brexit is the large numbers of European migrants coming into Britain, this perception of advantage could be somewhat misplaced