Entertainment » OtherPosted at: Jun 24 2016 7:11PM No immediate impact on trade with Brexit: FIEO PresidentHyderabad, Jun 24 (UNI) No immediate impact on trade due to Brexit but volatility in currency needs to be watched closely, Federation of Indian Export Organisation (FIEO) President S C Ralhan said today. Reacting to the Britain's exit from European Union, Mr Ralhan said that while it has led to political and economic uncertainty, it will not have much impact on India’s trade with Britain and EU. Much will depend on what kind of negotiation Britain works out with EU within the two years window available to replace the terms of EU membership. If Britain gets the same treatment in terms of Free Tariff and Free Movement of persons, not much will change for India. However, if Britain gets the treatment as applicable to a non-member country, it may lead to positive impact on India’s exports to EU as well as to Britain. India’s exports to EU was USD 35.35 billion while the same was USD 9.35 billion to Britain in 2015-16. Indian products may compete with British products in EU and EU products in Britain on MFN basis augmenting our exports. Similarly, any restriction on movement of persons from EU to Britain will open opportunity for Indian service providers in a wide range of services.Please log in to get detailed story.Tags: #No immediate impact on trade with Brexit: FIEO President