Brexit to Create ‘Uncertainty’ for Indian Businesses – Commerce Association

Brexit would have an adverse impact on investment in the UK, according to the Federation of Indian Chambers of Commerce and Industry.

NEW DELHI (Sputnik) — The United Kingdom exiting the European Union would create difficulties for Indian enterprises working with London, the Federation of Indian Chambers of Commerce and Industry (FICCI) said Wednesday.

"The UK is a valued economic partner for India and we firmly believe that leaving the EU, would create considerable uncertainty for Indian businesses engaged with UK and would possibly have an adverse impact on investment and movement of professionals to the UK," FICCI Secretary General Didar Singh said in a statement.

The FICCI chief added that the United Kingdom has been considered an entry point or gateway to the European Union by many Indian companies.

UK nationals are set to vote on June 23 in a referendum on the country's EU membership, after British Prime Minister David Cameron and the 27 other European Union leaders secured a deal last week to grant the United Kingdom a special status within the bloc.