In 1951, the European Coal and Steel Community and Benelux began to unite European countries economically. India must work towards strengthening relations with key EU countries and negotiating new trade and investment arrangements with the EU. In any event, unless Brexit is abandoned, the sterling and Britain's position as financial centre will decline. Brexit is a major milestone in the changed global economy as we know it. It was from the recently joined and economically poor and backward East European countries in the EU to relatively prosperous countries like the UK.

Source: The Telegraph July 05, 2016 22:52 UTC