Modi-Boris virtual summit brings deals worth 1 billion pounds, enhanced trade partnership  

Written By: Sidhant Sibal WION
New Delhi  Published: May 04, 2021, 08:33 AM(IST)

British Prime Minister Boris Johnson with Prime Minister Narendra Modi (file photo). Photograph:( AFP )

Story highlights

Overall, the announcement on a trade deal will create 6,500 new jobs in the UK and includes over £533 million of new Indian investment into the UK. £200 million of these deals will support low carbon growth

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 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, Johnson 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 6,500 new jobs in the UK and includes over £533 million 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 will be the launching of the Comprehensive Roadmap 2030. The roadmap aims to expand and deepen India-UK cooperation in the next decade in five areas: people-to-people relationship, trade and prosperity, defence 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, the UK PM was very keen on visiting India and both times, in January and April, it 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, it has sent £6 million worth of medical supplies.

The British Asian Trust raised over £1.6mn in the last week through their emergency appeal and UK business leaders have mobilised in response to the Indian High Commission’s request for vital equipment. 

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