Britain To Finally Exit The European Union: What Changes After Brexit?

On Friday, January 31, Britain will finally exit the European Union. The UK Prime Minister Boris Johnson will make an announcement as part of his speech outside Ten Downing on the day. The British Parliament square will be decked up with union flags. A large countdown clock will tick to mark the moment. Millions of special 50 pence coins will be out to mark the event. But not all are partying in the country. Steve Bray, a resident of South Wales in the UK has been camping in London, just outside the Parliament for the last 1,300 days since the Brexit vote in June, 2016 to protest it. Whilst 52 per cent voted to leave the European Union, 48 per cent of the people voted to remain in the bloc.

Experts say, this could be the beginning of a new spate of uncertainty and unanswered questions.

"There are very many outstanding questions about trade, migration and other aspects. What rights EU migrants here have, what rights British people living in Europe have... none of these things have been discussed in a way that it will make it very smooth." says Sam Miller, a senior Journalist and author.

What changes after Friday?

• In terms of everyday life, nothing much changes for the people living in the UK
• However, the UK will lose 73 of its MEP seats in the European Parliament
• Brexiteers like Nigel Farage will be among the MEPs to lose the seat
• In future EU summits, UK Prime Minister Boris Johnson will be able to participate only with a special invite
• The UK will be able to begin talks on trade deals with other nations, but any deal will be effective only after the Brexit transition period of 31 December 2020
• Travel firms say everything would remain the same for UK holidaymakers in the EU after January 31
• There are no restrictions on travel until December 31st when the transition period ends
• Pet owners could carry their animals to the EU on 'pet passports' until December

Investments from India to the UK rose by 65 per cent in 2015, making India the third largest foreign direct investor in the UK. But last year, these numbers dipped slipping India's position to the fifth. Uncertainty about businesses and a threat lack of access to the European bloc are among the key reasons for this.

Kevin Mccole, Managing Director of UK India Business Council says, "There is not actually a huge chorus from businesses in the UK or in India for a free trade agreement immediately. They see it as something that is many years away and is aspirational. But there are many things both countries need to focus on by both governments, like UK businesses need things to get easy in India to do business. They want it regulated. The present government has made a difference but it is still not that easy. Indian businesses in the UK meanwhile are playing a wait and watch to see how the relationship between UK and EU pans out."

The only one but important aspect the EU and Britain have thus far agreed upon is to share information on terrorism and security.