Amit Shah says India fully prepared to deal with Brexit

Amid apprehensions of Brexit's impact on Indian economy, BJP chief Amit Shah on Friday asserted that the country was fully prepared and decline in inflation, stable and liberal policies and fiscal discipline will protect the country from any possible global economic turbulence.

India is fully prepared to deal with short and medium term impact of Brexit.

— Amit Shah (@AmitShah) June 24, 2016

Inflation decline,stable &liberal policies and fiscal discipline will protect us from any possible global economic turbulence due to Brexit.

— Amit Shah (@AmitShah) June 24, 2016

We are one of the most stable and fastest growing economies offering a lucrative investment destination.

— Amit Shah (@AmitShah) June 24, 2016

In a development that could have far-reaching implications for Europe as well as the global economy, Britain has voted to leave the 28-nation bloc EU, causing bloodbath in financial markets.

European stocks went into free fall at the opening, mirroring a rout in Asian markets, after traders had banked in the run-up on Britain opting to remain in the EU based on polls and bookmakers' predictions. London's benchmark FTSE-100 index plummeted 7.5 per cent after opening but began to recover some of the losses after British Prime Minister David Cameron said he would step down.

The BSE Sensex still ended the day 605 points lower, its biggest single-day fall in over four months, while the rupee closed 71 paise down at 67.96 against the US dollar, its lowest level in four months.