LONDON: The UK and Indian governments will on Tuesday announce their first enhanced trade partnership as a precursor to a free trade agreement when UK Prime Minister Boris Johnson And the Prime Minister of India Narendra Modi Hold a virtual meeting.
One billion pounds (10,000 crore) in new UK-India trade and investment will also be announced. This will include an investment of Rs 240 million (Rs 2,400 crore) Serum Institute of India To support clinical trials, research and development in the UK and “possibly vaccine production” in Britain, Downing Street said. SII U.S. Biotech has launched the first phase of nasal vaccine against Covid-19 in the UK in partnership with Codegenics Inc.
Serum will also open a new sales office fee in the UK which is expected to build over $ 1 billion in new business. The new Indian investment in the UK will total 3 3 million3 million (Rs. 00, 00 crore), which will provide about .00 jobs. These include the creation of 1,000 jobs in the UK by Infosys and HCL Technologies and new export deals with India worth Rs 446 million (Rs 4,500 crore). These include the export of BP Decarbonizing Infosys campuses across India, a deal for e-bicycles and a surgical robotic system to help CMR Surgical Indian surgeons perform minimally invasive surgery.
This enhanced trade partnership will remove restrictions on the export of British fruits and medical devices to India and recognize higher education qualifications in the UK, as well as a commitment to work to remove barriers to UK lawyers complying with international law in India. ”. It will also announce a shared objective to start work towards the broader FTA Which could lower or eliminate tariffs on British products such as whiskey.
“Over the next decade, we will double the value of our trade partnership with India and take the relationship between our two countries to new heights,” Jones said.