Brexit may not be all bad news for India

July/August 2016, 2016, Brexit Special
by Arnab Mitra
The frayed nerves have calmed; the markets have stabilised; and investor attention has turned from the fallout of Brexit to the flight path of the Monsoon clouds over India and the fairly good probability of the long awaited GST Bill finally going through the Rajya Sabha and becoming law.

More than a month after the unexpected vote in favour of Brexit, economists, analysts and policy planners are unanimous that that Britain’s shock decision to exit from the European Union (EU) is unlikely to cause any major long-term damage to the Indian economy as it is still very dependent on domestic consumption, which is mostly insulated from global even.