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Ahead of Virtual Summit with Prime Minister Narendra Modi, UK Prime Minister Boris Johnson Announces £ 1 Billion Trade Deals, Including 240 Investments by Serum Institute of India | World news




New Delhi: Ahead of the virtual summit with Prime Minister Narendra Modi on Tuesday, May 4, 2021, British Prime Minister Boris Johnson announced £ 1bn in trade deals including a £ 240m investment by the Pune-based Serum Institute of India (SII).

Boris Johnson said: “Like all aspects of UK-India relations, the economic ties between our countries make our people stronger and more secure.”

The Serum Institute’s investment, according to the UK government, will be in its vaccines business and a new sales office that will generate new business worth £ 1 billion.

In total, the announcement of a trade deal will create 6,500 new jobs in the UK and includes over 533 million new Indian investments. 200 million of these deals will support low carbon growth.

The virtual summit between Johnson and PM Modi is scheduled to be held around 5 p.m. on Tuesday. One of the main focus areas of the virtual meeting will be the launch of the comprehensive 2030 roadmap.

The roadmap aims to broaden and deepen India-UK cooperation over the next decade in five areas, namely people-to-people, trade and prosperity, defense and security, climate action and Healthcare.

The UK sees New Delhi as its key partner in a post-Brexit world and has increased its engagement as part of its Indo-Pacific orientation.

It is noteworthy that Johnson was also very keen to visit India, twice in the past four months. But both visits were canceled due to the COVID-19 situation in India and the UK.

Meanwhile, as India’s COVID-19 crisis leaves unimaginable devastation, London was quick to send aid. Last week it had become the first country to send assistance planes to New Delhi and has so far sent 6 million in medical supplies.

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