♤ Many Brexit supporters argued that the EU was the biggest obstacle to U.K.-India trade.

♤ India remains deeply vested in the outcome of the referendum for two reasons:

o The first concerns the welfare of a nearly three-million strong diaspora of Indian-origin

U.K. citizens,

o second concerns the interests of a large moving population of Indians who come to Britain ever year as tourists, business people, professionals, students, spouses, parents and relatives.

♤ Indian industry in the U.K. is thriving. There are 800 Indian companies in the country -- more than the combined number in the rest of Europe. According to the India Tracker 2016 commissioned by the Confederation of Indian Industry (CII), Indian companies generate 110,000 jobs. The number of Indian companies growing at more than 10 per cent — the key benchmark for inclusion on the list — has nearly doubled this year over the last.

♤ Work-related visa restrictions have already resulted in a fall in the number of Indian students studying in British universities from 22,385 in 2012-13 to 18,320 in 2014-15, according to the U.K. Council for International Student Affairs (UKCISA).

♤ Indian businesses and financial institutions are however hedging their bets. According to a report by the State Bank of India's Economic Research Department, Brexit may actually strengthen India's position. The significance of Commonwealth has increased in this context.