Brexit: Penny wise, Pound Foolish!

The massively adverse fallout in global markets against the backdrop of Brexit is testament to the ‘Penny Wise, Pound Foolish’ nature of the move. Brexit threatens to alter the world economic order, with resultant decline in global GDP, volatility in currencies, rebalancing of trade ties and a possibility of the UK slipping into recession. It is imperative for global policy makers to take remedial measures to minimize damage. Even so, the silver lining is India emerging as the ‘must invest destination’ among EMs for strategic and financial investors in the wake of global uncertainty.”
Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Institute