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What UK exiting EU means for Indian tech companies
The results are out, Britain has voted to leave the European Union. The results from Thursday\'s landmark referendum showed 51.9% voters choosing to leave EU, while 48.1% wanted to part of the bloc.
The results are out, Britain has voted to leave the European Union. The results from Thursday's landmark referendum showed 51.9% voters choosing to leave EU, while 48.1% wanted to part of the bloc.
The vote instantly creates the biggest global financial shock since the 2008 economic crisis. It is also sure to impact India's $150 billion software services export industry which has a sizable exposure to Europe as well as the IT industry globally.
UK is the second-largest market for Indian IT services industry, accounting for 17% of the total exports. It has also traditionally been the gateway for Indian IT firms to enter Europe.
Here's how Britain exiting EU, or Brexit, as it is popularly called may impact technology companies in India as well global IT companies.
