India, UK decide to enhance partnership on COVID-19 vaccines
It was already announced that the SII will invest 240 million pounds in the UK to expand its vaccine business and set up a new sales office, creating a large number of jobs.
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The investment is part the of plans for a one-billion pound India-UK Enhanced Trade Partnership. (Photo | PTI) By PTI
NEW DELHI: India and the UK agreed on Tuesday to expand and enhance their existing partnership on vaccines, besides vowing to work together to reform and strengthen the World Health Organization (WHO) and the global health security architecture to strengthen pandemic resilience.
›India, UK to reduce trade barriers infood, medical devices, cut duty on whiskey, auto under trade pact: UKIBC
India, UK to reduce trade barriers infood, medical devices, cut duty on whiskey, auto under trade pact: UKIBC
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India, UK to reduce trade barriers infood, medical devices, cut duty on whiskey, auto under trade pact: UKIBCBy
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The two sides had decided earlier this year to launch an ETP to develop a roadmap that would lead to a potential comprehensive free trade agreement( FTA), including considerations on an interim pact on a preferential basis.
Agencies
In the year before the pandemic bilateral trade grew 10% to GBP24 billion.
The Serum Institute of India will invest GBP 240 million in the UK to expand its vaccine business and set up a new sales office creating a large number of jobs, Downing Street has announced as part of plans for a GBP 1 billion India-UK Enhanced Trade Partnership creating around 6,500 jobs in Britain. The Pune-based vaccine manufacturer is among a list of nearly 20 Indian companies across sectors such as healthcare, biotech and software services to announce significant investment plans in the UK. It was also revealed that the Serum Institute of India (SII) has started phase one trials in the UK of a nasal vaccine against coronavirus.
New Delhi/London: The Serum Institute of India (SII) will invest 240 million pounds in the UK to expand its vaccine business and create multiple jobs in the country. The investment is part of the 1 billion-pound India-UK Enhanced Trade Partnership that will create nearly 6,500 jobs in Britain.
The investment by the Adar Poonawalla-run SII will also see opening of a new sales office in the UK.
The SII has also begun phase 1 trials in the UK of a nasal vaccine against coronavirus, in partnership with Codagenix INC. The sales office is expected to generate new business worth over 1 billion pounds, 200 million pounds of which will be invested in the U.K. Serum s investment will support clinical trials, research and development and possibly manufacturing of vaccines, said the official statement from the Downing Street.
Serum Institute of India leads cross-sector Indian investments into UK business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.