London announces new business partnership with India

(London) The United Kingdom on Monday evening announced a new trade and investment partnership in India with an amount of one billion pounds sterling (1.7 billion Canadian dollars), with investment in vaccines exclusively by the Serum Institute of India (SII) Is included. Britain.


France Media Agency

Overall, according to the UK Government more than 6,500 jobs are expected to be created in the UK, including a new Indian investment of £ 533 million in the UK.

Of this amount, 240 million pounds ($ 410 million Canadian dollars) will be invested by the Serum Institute of India, one of the manufacturers of the AstraZeneca vaccine, to support clinical trials, research and development, and possibly vaccines. Also the production of. .

Boris Johnson was due to travel to India, but currently had to cancel his trip due to a wave of widespread coronovirus epidemics in the country. London has sent £ 6 billion worth of medical supplies.

“In the coming decade, with the help of the new partnership and full free trade agreement signed today, we will double the value of our trade with India and take the relationship between our two countries to a new peak,” Boris Johnson said in a statement. .

Trade between India and the former British colonial power is already worth £ 23 billion a year.

According to Downing Street, British Prime Minister Boris Johnson and his Indian counterpart Narendra Modi will pave the way for a future free trade agreement, according to London, to deepen cooperation between the two countries during a virtual meeting on Tuesday.

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Such a possibility is still far from certain, with the Indian Prime Minister finding himself rather than the dynamic and self-reliant India of “Made in India”.

Last year, it abruptly refused to join the Regional Comprehensive Economic Partnership (RCEP) in the Free Trade Agreement between 15 countries in the Asia-Pacific region, in which New Delhi feared that dairy products from agriculture, the commodity sector and Services are at a loss.

Discussion on the free trade agreement between the European Union and India is scheduled to resume eight years after a series of 16-month unsuccessful negotiations.

With around 1.4 billion inhabitants, India is one of the priority markets for Brexit United Kingdom focusing on the Asia-Pacific region.

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