EU (European Union)

European Union Political Economic Union. Its Former name was European Economic Community. Which have 28 states as a member of this. The area is around 43,24,782 sq kms, Population is about 508 million people, Its headquarters are City of Brussels and Belgium, Its largest city is London founded on November 1st in 1993 and founders are France, Belgium, Luxembourg, Italy, Netherlands, Germany.

EU Relations with India

The Republic of India maintains an ongoing dialogue with the supranational Institutions of the European Union which is separate from the bilateral relations with sovereign member States of the European Union. In Asia the positive public perception of Europe is highest in India.

India, the world’s most populous democracy, has strong and effective strategic partnerships with France, the United Kingdom and Germany.

The foremost areas of programmed India-EU-28 cooperation are in the domains of education, cultural exchanges, joint-research in science & technologies, and law enforcement.

How EU Impacts on India After Brexit

Business Declaration Per Year

As we can see above image according to it the business of India will be affected by 14.02 billion dollar, exports by 8.83 billion dollar and imports by 5.19 billion dollar so you can consider this a very serious issue.

Diplomatic Relation

Well this is again a major one an Indian FDI to Britain will be affected by approx 2.75 billion dollar, 800+ Indian firms in Britain, 122+ current projects, 7500+ jobs created so you can see that it’s an important aspect.

Compliance costs for Indian firms in UK to rise while capital flow will go down.

Education

Education is the very foremost factor as every one knows it very well. There are approximate 20000 students in Britain so you can see the negative impact that the drop is -18% year on year which is again a major one.

Tourism

Tourism is the one of the main source of revenue income for any country so due to this the Forex will go up, the situation is that the exchange rate is Rupees 99.23 = 1 Pound which is 0.3790 Re appreciation year on year.

Immigration

Due to this EU removes Immigrants and that again affects a lot because Indian population in Europe is around 1,768,834+ which is massive don’t you think so?