Serum Institute to invest 240 million pounds in UK; leads cross-sector Indian investments
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Last Updated: May 04, 2021, 09:28 AM IST
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Synopsis
The Pune-based vaccine manufacturer is among a list of nearly 20 Indian companies across sectors such as healthcare, biotech and software services to announce significant investment plans in the UK.
Agencies
It was also revealed that the Serum Institute of India (SII) has started phase one trials in the UK of a nasal vaccine against coronavirus.
The Serum Institute of India will invest GBP 240 million in the UK to expand its vaccine business and set up a new sales office creating a large number of jobs, Downing Street has announced as part of plans for a GBP 1 billion India-UK Enhanced Trade Partnership creating around 6,500 jobs in Britain. The Pune-based vaccine manufacturer is among a list of nearly 20 Indian companies across sectors such as healthcare, biotech and software services to announce significant investment pla
London: The Serum Institute of India will invest GBP 240 million in the UK to expand its vaccine business and set up a new sales office creating a large
Synopsis
The Prime Ministers will also announce £1 billion in new UK-India trade and investment, including in growing sectors such as health and technology.
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The Partnership also commits both sides to addressing immediate market access barriers as well as continuing to seek further opportunities as we negotiate an FTA, benefitting businesses and consumers in both countries.
Prime Minister Boris Johnson and Prime Minister Narendra Modi will hold a virtual meeting to agree on a deeper relationship between the UK and India across trade, health, climate and defence. This includes agreeing on an Enhanced Trade Partnership to unlock new opportunities for Indian and British businesses, and committing to negotiate a UK-India Free Trade Agreement (FTA).
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Prime Minister has praised the overwhelming display of support from the British people to India over the last week
The Prime Minister and Prime Minister Modi have made an historic commitment to strengthen work between the UK and India over the next decade, bringing our countries, economies and people closer together.
The UK’s Integrated Review, published earlier this year, highlighted the importance of the Indo-Pacific region to the UK’s security and prosperity. India is an indispensable partner in that region.
The Prime Minister and Prime Minister Modi have pledged to achieve a quantum leap in the UK-India relationship, boosting our cooperation in areas that matter to the UK and India. India has elevated the status of its relationship with the UK to a ‘Comprehensive Strategic Partnership’ – the first European country to be
British Prime Minister Boris Johnson with Prime Minister Narendra Modi (@narendramodi/Twitter)
In a major development, India and the United Kingdom (UK) are set to sign an Enhanced Trade Partnership (ETP) which will pave the way for the possible doubling of the bilateral trade by 2030 and serve as a base for beginning work towards a comprehensive free trade agreement (FTA),
Outlook India.
Announcing the development, Prime Minister (PM) Boris Johnson said, Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer. Each and every one of the more than 6,500 jobs we have announced today will help families and communities build back from coronavirus and boost the British and Indian economies. In the decade ahead, with the help of (the) new partnership signed today and a comprehensive Free Trade Agreement, we will double the value of our trading partnership with India and take the relationship between our two countri