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
Infrastructure Transport

Japan builds 3D-printed station in just six hours

In a pioneering move, West Japan Railway Company has introduced a 3D-printed train station in Arida city, reportedly the first of its kind in the world. The new Hatsushima station was assembled in less than six hours using prefabricated components manufactured off-site and transported over 800 kilometres to the location.The new facility replaces an ageing wooden structure dating back to 1948. Since 2018, Hatsushima has functioned as an unmanned station, a common model for smaller stations across Japan. It serves approximately 530 passengers daily on a single-line route with limited train frequ..

Next Story
Infrastructure Urban

Repo Relief: Real Estate Sector Applauds RBI’s Second Consecutive Rate Cut

In a decisive move to stimulate growth amid global economic uncertainties, the Reserve Bank of India (RBI) has slashed the repo rate by 25 basis points for the second consecutive time this year, bringing it down to 6 per cent. This back-to-back reduction reflects the central bank’s accommodative stance aimed at reviving domestic consumption, easing borrowing costs, and providing a fillip to interest-sensitive sectors—particularly real estate.The latest cut follows a similar 25 bps reduction in February and comes at a time when inflation has moderated and the GDP growth for FY26 is projecte..

Next Story
Infrastructure Energy

BGR Tech, Chemie Tech to jointly execute green hydrogen projects

BGR Tech has signed a Heads of Agreement (HOA) with Chemie Tech DMCC to collaborate on multi-megawatt Lump Sum Turnkey (LSTK) green hydrogen and ammonia projects across global markets. The agreement was signed by Ms. Priyadershini Raghupathy, Managing Director – BGR Tech Ltd., and Mr. M.K. Saiyed, Chairman & Managing Director – CTDMCC, in the presence of Mr. Shandar S.M. Zaidi, Director – Green Hydrogen & Ammonia, CTDMCC.BGR Tech will provide green hydrogen generation and purification systems, including electrolysers and related engineering support, drawing on its manufac..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?