SOURCE: DNA INDIA
Ahead of the India-UK virtual summit to be chaired by British Prime Minister Boris Johnson and Indian PM Narendra Modi, the former has announced one billion pounds of new UK-India trade deals which includes an investment of 240 million pounds investment by Pune based Serum Institute of India (SII). The investment by SII according to the UK government will be into their vaccine business and a new sales office that will generate new business worth one billion pounds.
Ahead of the summit, UK PM said, “Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer.”
All in all, the announcement on a trade deal will create 6500 new jobs in the UK and includes over £533m of new Indian investment into the UK. £200 million of these deals will support low carbon growth.
One of the key focus areas of the virtual summit that will take place around 5 IST will be the launching off the comprehensive Roadmap 2030. The roadmap aims to expand and deepen India-UK cooperation in the next decade in 5 areas–people-to-people relationship, trade, and prosperity, defense and security, climate action, and healthcare-
The UK sees New Delhi as its key partner in a post-Brexit world and as part of its Indo Pacific tilt has been increasing engagement. In fact, UK PM Boris was very keen on visiting India and both times–when he was to visit India in January, then again in April got postponed due to the COVID pandemic.
Meanwhile, as the COVID crisis in India leaves unimaginable devastation, London has been quick to send assistance. Last week, it became the first country to send planeloads of assistance to New Delhi and so far has sent £6 million worth of medical supplies.
The British Asian Trust raised over £1.6m in the last week through their emergency appeal & UK business leaders have mobilized in response to the Indian High Commission’s request for vital equipment.