As Britain voted to exit the EU, Tata Motors-owned Jaguar Land Rover today said it is “business as usual” and will manage the long-term impact and implications of the decision, insisting “nothing will change” overnight for it and the automotive industry.
“For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions,” a JLR spokesperson said in a statement.
On outcome of the referendum, the spokesperson said: “We respect the views of the British people and in line with all other businesses, Jaguar Land Rover will manage the long-term impact and implications of this decision: nothing will change for us, or the automotive industry, overnight.”
The UK vote to leave the EU has opened up a “Pandoras box of grave uncertainties” and India cannot be in denial that it will be immune to the development, Biocon CMD Kiran Mazumdar-Shaw has said.
“It has opened up a Pandoras box of grave uncertainties. Will Euro remain intact or will we see others exit? What will be the impact on the Euro itself? Will it devalue and to what extent? How will Indias bilateral trade with UK and Europe be impacted?” she added.
“How much will the USD strengthen against the Pound Sterling/Euro/Rupee?” Mazumdar-Shaw said. She said India cannot be in denial that it will be immune to Brexit, adding that there is likely to be mayhem for several weeks before things stabilize. “Its fortunate that we still have Raghuram Rajan at the helm of RBI at this critical time,” the Biocon CMD said.