UK and India announce $1.4 billion investment boost, step closer to trade deal – Reuters UK

SourceReuters
SectorEconomy
CountryMiddle east

Britain’s Prime Minister Boris Johnson meets Indian Prime Minister Narendra Modi at a bilateral meeting during the G7 summit in Biarritz, France August 25, 2019. Stefan Rousseau/Pool via REUTERS/File Photo

Britain and India announced 1 billion pounds ($1.39 billion) of private-sector investment and committed to seek a free trade deal ahead of a virtual meeting between Prime Minister Boris Johnson and Indian leader Narendra Modi on Tuesday.

The meeting replaces an in-person visit Johnson had planned to make last month to deepen cooperation as Britain seeks new trading partners after leaving the European Union. That visit was cancelled due to surging COVID-19 cases in India.

“Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer,” Johnson said in a statement.

The British government set out 533 million pounds of Indian investment into Britain, including 240 million by the Serum Institute for its vaccines and sales business, and 446 million pounds of export deals for...read more...