£1bn UK-India trade deals will create 6,000 UK jobs, says PM

The prime minister has announced new trade and investment deals with India worth £1bn.

It includes more than £533m of new investment from India into the UK, which is expected to create about 6,000 jobs. Downing Street said the new partnership would “pave the way” for a future UK-India Free Trade Agreement.

“The economic links between our countries make our people stronger and safer,” said Mr. Johnson.

The deal announced ahead of a virtual meeting with India’s Prime Minister Narendra Modi, includes a £240m investment by the Serum Institute of India, which will support clinical trials, research, and possibly the manufacturing of vaccines.

Serum has already started phase one trials in the UK of a one-dose nasal vaccine for coronavirus, in partnership with Codagenix.

Across India, case numbers since the start of the outbreak are closing in on 20 million. In response to India’s coronavirus surge, the British Asian Trust has raised more than £1.6m in the last week through its emergency appeal.

-BBC

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