Why Brexit and it's connotation.?

For anyone who visited London last week must have witnessed the a political dogma rather than economic one. The very idea of leaving or remaining in EU was supported by various number of social, political and business groups for their own reasons.Market remained flooded with pamphlets, jitters and advertisements favoring 'remain' campaign. However, out of all these the results came as surprises from early Friday morning. The biggest surprise came from the town of Wales which was expected to favor 'remain'.Britain was on way to end 43 year old ties with EU. Surely xenophobia wasn't a major point to be considered here as reason behind such dramatic incident. 

After amid deliberations after the failure of 'remain' campaign, there started pointing out fingers for the failure of the 'remain' campaign.The results could not be blamed on poor voter's turnout as it was near about 72% after a period of 26 years. Now here Prime Minister Cameroon was also criticized for carrying out this referendum after voices were raised among his own party.Blames were also overhead of the political discontentments among the people regarding various issues of immigrants, employment and jobs snatched due the immigrants among the EU entities. While economist are pondering the after effects of the BREXIT, there has been no economic theory to relate it with the present context. Moreover,if we look at the strategy (pre-brexit) during the time, there were some different aspects apart from the mainstream ideas.

 The very discontentments among the working class and the job seekers was also a major part considering the results. The radical change in the west world followed by dominant candidature of Donald Trump and the victory of the neo-nazi candidates rising up for the presidential elections could easily be co-related with the favor of Brexit. Closely looking to it, we may find the rise in the shift from the mainstream politics and bifurcation of the two ideology on nationalism on a side. Media including newspapers mainly the right wings affiliated also led to the shift of the favor for 'remain' in the campaign. The 'remain' campaign mostly favored and pondered around the caution of 'leave' ideas.It did not focused put weight on the 'remain' campaign as evident by the 'project fear' in remain campaigns. Far from this strategy and measures to integrate citizen, business groups and political institution it alienated them more away.

However,It is quite possible that after Brexit, the EU will reform itself and stage a comeback while Britain becomes a backwater struggling to hold on to Scotland. However, we could also see Europe get gridlocked by competing regional demands while Britain uses its new-found policy flexibility to rebuild itself. But comtemplating this historical event's impact on Indian economy, trade and for students migrating to UK ,its important to look at the aspects related to it. 

Now, the journey for Britain would be to prove its independent capacity and the prime role of citizen would be to prove their social, political identity of their own.The poll results not only left the political parties in two fractured part but also left the country fissured. The poll outcomes were not in huge differences in number, it was 52% for leave and 48% for the unfortunate remain side.Regardless of the very less difference in the result it's always the greater side which is favored.The country's challenges aside from the messy economic question do not of course stops here. The very future of EU also remains in stake with the possibilities of independent referendum peaking there head out. 

However India refrained it self from commenting its stake on the poll results, it assured its citizen of no long term impact in its economy apart from short term economic infringement. However, Brexit supporters argued that EU was one of the biggest obstacles for Indo-Britain trade.

There's another big aspect for India to look upon. It's the welfare of 3 million strong Indian population living there while secondly it also concerns with huge number of population moving every year to Britain as tourist, student or for business. Trade between India and UK is very thriving as evident from 750+ Indian companies employing about more than one lakh jobs alone in UK. Gross growth of the Indian companies is more than 10 pa.

‘Brexit’ close on the heels of ‘Rexit’ has triggered a great deal of market turbulence and future uncertainty.  It will need to ensure, firstly, that its macroeconomic parameters remain rock solid and the Indian economy is seen as contributing to global macro stability rather than adding to turbulence.

While there will be no sudden impact on economic policies of UK, Brexit has dashed the hope of million who wanted to remain in EU. It'll be something curious to see as how Britain is going its way ahead now.