It may sound selfish, but had there been a Brexit without a deal, India would have got better market access in some sectors. The gains for India are, however, more likely in the services sector because bilateral services trade between the UK and EU is substantial. “In sectors such as IT, R&D, architecture and financial services, we may gain in both the markets but particularly in the UK. For example, in the IT sector, India’s competitor in the EU, particularly in the lower segment of services, is Poland. Brexit also opens the opportunity for India to sign trade deals separately with both the EU and the UK.

Source: Mint December 25, 2020 17:27 UTC