Brexit: Rajan for keeping world open, avoiding 'copycat' exits

As Britain decided to leave the European Union, Reserve Bank of India Governor Raghuram Rajan on Friday said the onus is now on policymakers to ensure there is no such copycat moves in other countries and an idea of open world is kept alive by building consensus.

Rajan told reporters on a conference call from Basel, Switzerland, where he is meeting other central bankers.

The academic-turned-central banker, who has said he would be returning to the academia after the end of his term in September, stressed that trade, immigration and capital flows must not be hindered.

"Authorities across the world will have to pay more attention to build popular and political support for keeping an open world," he said, adding that rallying public support would be a silver-lining from Brexit episode.

Brexit has aggravated worries about growing protectionist tendencies and support for ultra-right and conservative politicians in Europe and in the US with the candidature of Donald Trump.

Earlier this week, Rajan had termed the US elections as fraught with risks, without naming anybody.