Brexit a sad development, but not to affect India: CEA Arvind Subramanian

"We are able to deal with it as we've solid macroeconomics," CEA Arvind Subramanian said, delivering the keynote lecture on 'Overview of Indian Economy' at an international conference.

By: PTI | Patna | Published:June 26, 2016 2:14 pm
Arvind Subramanian, CEA Arvind Subramanian, Raghuram Rajan, Brexit, Indian economy news, brexit india, business news Chief Economic Adviser Dr Arvind Subramanian.

Union government’s Chief Economic Advisor Arvind Subramanian on June 26 said Brexit was a sad development but India would not be affected by it due to its solid macroeconomics.

“Brexit is a very sad development…it has consquences for both the United Kingdom and Europe,” he said while delivering keynote lecture on ‘Overview of Indian Economy’ at an international conference being held in Patna as part of the ADRI Silver Jubilee Celebrations.

“We are able to deal with it as we’ve solid macroeconomics,” he said.

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Stating that Brexit is a significant development with serious political and economic consequences for both the UK and Europe, Subramanian said it was a landmark moment in the history since World War II.

The decision has reversed the experiment by the European countries for togetherness as a collective entity, he said, adding the elites would now be forced to recalibrate and adjust.

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