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Post-Brexit UK will probably be simply as vital to India, says Modi

LONDON (Reuters) – Britain will probably be simply as vital to India after it leaves the EU as it’s now, Indian Prime Minister Narendra Modi informed his British counterpart Theresa May on Wednesday, May’s spokeswoman stated.

Britain’s Prime Minister Theresa May holds a bilateral assembly with Narendra Modi, the Prime Minister of India, at 10 Downing Street in London, April 18, 2018. Kirsty Wigglesworth/Pool through Reuters

“Prime Minister Modi said there would be no dilution in the importance of the UK to India post-Brexit,” the spokeswoman stated in an announcement.

“He said the City of London was of great importance to India for accessing the global markets and would remain so.”

Modi is in London for this week’s Commonwealth Heads of Government Meeting (CHOGM). He informed May in a bilateral assembly that Brexit provided alternatives to extend commerce ties between Britain and India, the assertion added.

Britain is because of depart the EU in March 2019 however has negotiated a conditional transition or implementation interval to final till January 2021.

“May said the implementation period agreed in March gives Indian companies and investors the confidence that market access will continue on current terms until the end of 2020,” the assertion stated.

“She reiterated that the UK will remain committed to global free trade and investment and that the UK will remain a leading hub for global finance,” it added.

Reporting by Stephen Addison; modifying by Costas Pitas


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