Brexit: India to wait and watch what evolves

India will have to wait and see what evolves following Britain's exit from the European Union (EU), a senior official said here on Friday.

"We have been following recent developments very closely," Ministry of External Affairs spokesperson Vikas Swarup said at a media briefing here.

"We will have to wait and watch the relationship that will evolve between the United Kingdom and the European Union," he said.

In a referendum on June 23, Britain voted to exit the 28-member bloc after being its member for over 40 years, a result that rattled the world's markets.

While 51.9 per cent of the British people voted for the country to exit the EU, 48.1 per cent voted to remain.

Following the result, British Prime Minister David Cameron announced his resignation.

Swarup said India valued its "strong and multi-faceted relationship with the United Kingdom and the EU and we are committed to strengthening these ties further".

He said that following the referendum result, the Indian high commission in London held a meeting with representatives of various sectors of Indian businesses in Britain to understand their reaction to the referendum's outcome.

There are over 1.5 million people of Indian origin in Britain, including around 20,000 students.

"Considering that the UK, the EU and the world at large are still trying to grapple with the understanding of the recent referendum, it is still too early to understand the implications of Brexit on Indian businesses, and students in the UK," the Spokesperson added.

--IANS

ab/vt