Preparing for Life Post-Brexit, UK Looks Beyond Europe

At a joint summit last month, India and the United Kingdom discussed trade opportunities.

- Paramita Chatterjee

On November 7, a day before the demonetisation drive made headlines, UK Prime Minister Theresa May arrived in India for a three-day trade visit—her first bilateral trip outside Europe after assuming office in July this year. The visit is an indicator of the UK’s effort to look beyond Europe post the referendum to leave the European Union (Brexit) and at countries that will matter most in the years to come.

And figures show that India has been one of the fastest growing countries in the world. India’s GDP crossed $1 trillion in 2007 and doubled to $2 trillion in 2015. It is projected to be around $5 trillion in 2025, as per estimates of asset management and advisory firm ZyFin. Besides the growth rate, what makes India an attractive trade destination are the favourable demographics—65 percent of the country’s 1.3 billion population is below the age of 35, ZyFin data show.