+
UK, India announce Rs 10,000 crore trade partnership
ECONOMY & POLICY

UK, India announce Rs 10,000 crore trade partnership

India and UK have announced the first enhanced trade partnership as a precursor to a free trade agreement in the virtual meeting held between UK Prime Minister Boris Johnson and Indian Prime Minister Narendra Modi.

The trade partnership will remove the current restrictions on the export of British fruit and medical devices to India and approve UK higher degree certifications in India. The two countries have also decided to remove barriers that restrict UK lawyers from practising international law in India. The free trade agreement (FTA) could also lower taxes on British products such as whisky.

The UK and Indian Government together invests a total of Rs 10,000 crore in their new UK-India trade. Serum Institute of India (SII) will invest Rs 2,400 crore to support Britain’s clinical trials, research and development and manufacturing of vaccines. Previously, SII joined hands with US biotech Codagenix Inc to start Phase-1 trials in the UK of a nasal vaccine against COVID-19 The Indian pharmaceuticals major will also open a new sales office in the UK worth Rs 7,300 crore.

British Petroleum (BP) has decided to decarbonise Infosys campuses across India to produce e-bicycles, and Cambridge Medical Robotics (CMR) Surgical to export a surgical robotic system to assist the Indian surgeons.

Image Source


Also read: India inaugurates several development projects in Seychelles

Also read: India signs up to boost infra projects in Maldives

India and UK have announced the first enhanced trade partnership as a precursor to a free trade agreement in the virtual meeting held between UK Prime Minister Boris Johnson and Indian Prime Minister Narendra Modi. The trade partnership will remove the current restrictions on the export of British fruit and medical devices to India and approve UK higher degree certifications in India. The two countries have also decided to remove barriers that restrict UK lawyers from practising international law in India. The free trade agreement (FTA) could also lower taxes on British products such as whisky. The UK and Indian Government together invests a total of Rs 10,000 crore in their new UK-India trade. Serum Institute of India (SII) will invest Rs 2,400 crore to support Britain’s clinical trials, research and development and manufacturing of vaccines. Previously, SII joined hands with US biotech Codagenix Inc to start Phase-1 trials in the UK of a nasal vaccine against COVID-19 The Indian pharmaceuticals major will also open a new sales office in the UK worth Rs 7,300 crore. British Petroleum (BP) has decided to decarbonise Infosys campuses across India to produce e-bicycles, and Cambridge Medical Robotics (CMR) Surgical to export a surgical robotic system to assist the Indian surgeons. Image SourceAlso read: India inaugurates several development projects in Seychelles Also read: India signs up to boost infra projects in Maldives

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?