What the deal involves and why it matters. May 07, 2021 · 11:30 pm UK Prime Minister Boris Johnson and PM Narendra Modi have launched a Roadmap 2030 to expand and deepen bilateral cooperation. | Jeff J Mitchell/ Reuters
The United Kingdom and India have announced a new enhanced deal on trade at a virtual summit. The deal aims to double trade between the two countries by 2030 and declares their joint commitment to start working towards a comprehensive free-trade agreement, for which discussions are due to commence in the autumn.
Britain and India announced £1 billion of new trade and investment as part of this new Enhanced Trade Partnership. Indian investments worth £533 million will be made in Britain, including £240 million by the Serum Institute for the production of Oxford-AstraZeneca vaccines and sales business. At the same time, £446 million worth of export deals were announced by British businesses in India. This builds on a trade relationshi
The UK and India have announced a new enhanced deal on trade at a virtual summit. The deal aims to double trade between the two countries by 2030 and declares their joint commitment to start working towards a comprehensive free-trade agreement, for which discussions are due to commence in the autumn.
Britain and India announced £1 billion of new trade and investment as part of this new Enhanced Trade Partnership. Indian investments worth £533 million will be made in Britain, including £240 million by the Serum Institute for production of Oxford-AstraZeneca vaccines and sales business. At the same time, £446 million worth of export deals were announced by British businesses in India. This builds on a trade relationship that was already worth £25.5 billion in 2019.
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London: More than 6,500 new jobs will be created around the UK thanks to £1bn of new UK-India trade and investment announced by the Prime Minister today (Tuesday 4 May 2021).
The package contains over £533m of new Indian investment into the UK, which is expected to create more than 6,000 jobs in vital and growing sectors such as health and technology. £200m of these deals will support low carbon growth.
This includes a £240 million investment by the Serum Institute of India in the UK into their vaccine business and a new sales office which will create a large number of jobs. The sales office is expected to generate new business worth over $1 billion, £200 million of which will be invested into the UK. Serum’s investment will support clinical trials, research & development and possibly manufacturing of vaccines. This will help the UK and the world to defeat the coronavirus pandemic and other deadly diseases. Serum have already started phase one trials in the UK of a on
UK-India collaboration at heart of vaccine miracle: UK PM Boris Johnson
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Synopsis India and the UK have demonstrated this commitment to cooperation throughout the last year. You have kept your borders open so that vital medicine and PPE gets to those who need it in the UK and of course we cannot forget the immense contribution Indian people make to our National Health Service.
AP on May 05, 2021)
The Enhanced Trade Partnership will unlock new opportunities for Indian businesses in the United Kingdom and British businesses in India, UK PM Boris Johnson tells TOI in an exclusive email interview. Excerpts: