Modi, Boris set to boost closer trade, defence ties
Prime Minister Narendra
Modi on Tuesday evening held a “substantive and cordial” virtual summit with British PM Boris Johnson, when the two adopted an ambitious bilateral “Compre-hensive Roadmap 2030” to steer cooperation for the next decade, elevate the India-UK strategic partnership to a “new and transformational” Comprehensive Strategic Partnership, including a dramatic boosting of defence ties, and launched a bilateral Enhanced Trade Partnership to ink an Interim Trade Agreement sometime next year and eventually negotiate a Free Trade Agreement. Nine pacts were inked, including one on Migration and Mobility Partnership that will help students and professionals. Up to 3,000 young Indian professionals will get UK job opportunities for two years.
Mr Modi also pressed for the swift extradition of economic offenders from Britain like alleged offenders Vijay Mallya and Nirav Modi.
Prime Minister Narendra Modi will hold summits this week in virtual format with Britain on Tuesday and the European Union (EU) on Saturday amid huge Covid assistance extended by both. Britain had earlier quit the EU.
PM Modi also spoke, on Monday, to the European Commission President Ursula von der Leyen, in which they discussed the prevailing Covid situation in India including India’s ongoing efforts to contain the second wave of the pandemic that is battering the country. PM Modi expressed his “appreciation of the EU and its member states for mobilising quick support for India’s fight against the second wave of Covid,” the MEA said.
On Tuesday, PM Modi will hold a virtual summit with British Prime Minister Boris Johnson, during which a “comprehensive Roadmap 2030 will be launched which will pave the way for further expansion and deepening of India-UK cooperation over the next decade across five key areas, namely peopleto-people relationship; trade and prosperity; defence and security; climate action; and healthcare.” Cooperation in batting the pandemic will also be discussed.
External affairs minister S. Jaishankar is already in London from May 3-6 to participate in the G7 foreign ministers meeting where India has been invited as a guest country. He will thereafter begin a bilateral visit to the UK.
Ahead of the summitlevel meeting with the EU later this week on
Saturday, PM Modi and Ms von der Leyen, on Monday, agreed that the forthcoming India-EU leaders’ meeting on May 8 in virtual format was an “important opportunity to provide renewed momentum to the already multi-faceted India-EU relationship.”
The trade and investment package unveiled by the British government contains over GBP 533 million of new Indian investment into the UK, covering areas such as healthcare and technology.
This includes a GBP 240 million investment by the Serum Institute of India (SII) in the UK into its vaccine business and a new sales office in the country, expected to generate new business worth over $1 billion.
Serum Institute’s investment
will support clinical trials, research and development and “possibly” manufacturing of vaccines, to help the UK and the world defeat the coronavirus pandemic and other deadly diseases, Downing Street said.
British businesses have also secured new export deals with India worth more than GBP 446 million, which is expected to create more than 400 British jobs.
This includes CMR Surgical exporting its next-generation “Versius” surgical robotic system, which helps surgeons perform minimal access surgery being rolled out to hospitals in India.
This export deal is worth GBP 200 million and will result in the creation of 100 new jobs in the UK.