Several Indian companies are listed in the London Stock Exchange and this will take away their benefits in Europe.
Top Indian firms in the UK like Tata Motors, Bharti Airtel, Motherson Sumi, HCL Technologies, Emcure Pharma and Apollo Tyres who trade with EU through Britain will incur losses.
This could also have a negative impact on the Indian IT sector. According to Nasscom, 30 percent of the industry’s $100 billion revenue comes from the European market, which is the second largest for the India’s IT-BPM sector. In the near term a likely decline in the value of the British pound could render many existing contracts losing propositions unless they are renegotiated.
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