The Serum Institute of India has committed to investments worth £240m. Reuters/file
The Serum Institute of India has committed to investments worth £240m. Reuters/file
The Serum Institute of India has committed to investments worth £240m. Reuters/file
The Serum Institute of India has committed to investments worth £240m. Reuters/file

UK and India sign £1bn trade deal to create 6,500 jobs


Simon Rushton
  • English
  • Arabic

India and Britain committed to a deeper relationship over the decade in an array of areas and separately announced a trade deal worth £1 billion ($1.38bn).

Prime Minister's Boris Johnson and Narendra Modi agreed to strengthen work on health, climate, trade, education, science and technology, and defence.

The trade package raises hopes of a comprehensive deal between fast-developing India and post-Brexit Britain, with London aiming to double trade levels by 2030.

It could create thousands of jobs and pave the way for a tariff-busting free-trade agreement.

“The UK and India share many fundamental values. The UK is one of the oldest democracies and India is the world’s largest," said Mr Johnson.

"We are both committed members of the Commonwealth. And there is a living bridge uniting the people of our countries."

A planned British visit to Delhi was last month cancelled because of the country's worsening coronavirus crisis.

“In the last week the British people have stepped up in their thousands to support our Indian friends during this terrible time in a demonstration of the deep connection between the UK and India," Mr Johnson said.

“This connection will only grow over the next decade as we do more together to tackle the world’s biggest problems and make life better for our people. The agreements we have made today mark the beginning of a new era in the UK-India relationship.”

UK Trade Minster Liz Truss said talks on a full free-trade deal would start in the autumn when she wants tariffs lowered on cars and whisky.
"The jobs are immediate investments and export contracts. The commitments to invest will happen over the next year," she said.
"It is very different to a free-trade deal, which is about lowering tariff barriers and gaining agreements in digital and data. The jobs today are the tip of the iceberg."
UK-India trade is worth about £23bn a year, the British government says. In 2019, 1.1 per cent of UK exports went to India and 2 per cent of Britain's imports came from the subcontinent.
"This is going to be a win-win for both countries," Ms Truss said. "There are currently very high tariffs on products like cars and whisky into India. We want to see those tariffs removed to benefit businesses in Britain."
The deal includes more than £533 million in investment from India and could create 6,500 jobs in health and technology sectors.
"Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Mr Johnson said.
"Each and every one of the more than 6,500 jobs we have announced 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 countries to new highs."

Ms Truss said the UK was working with India to get medical supplies into the country, which is engulfed by a severe wave of Covid-19.

The deal includes £240m investment from the Serum Institute of India to support clinical trials, research and vaccine development.
Meanwhile, British businesses secured £446m of export deals with India, an agreement expected to create more than 400 British jobs.

Company%20profile
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Global state-owned investor ranking by size

1.

United States

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China

3.

UAE

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Japan

5

Norway

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Canada

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Singapore

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Australia

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Saudi Arabia

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South Korea

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Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

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It's Monty Python's Crashing Rocket Circus

To the theme tune of the famous zany British comedy TV show, SpaceX has shown exactly what can go wrong when you try to land a rocket.

The two minute video posted on YouTube is a compilation of crashes and explosion as the company, created by billionaire Elon Musk, refined the technique of reusable space flight.

SpaceX is able to land its rockets on land  once they have completed the first stage of their mission, and is able to resuse them multiple times - a first for space flight.

But as the video, How Not to Land an Orbital Rocket Booster, demonstrates, it was a case if you fail, try and try again.

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

Benefits of first-time home buyers' scheme
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Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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4.30pm: Handicap 64,000 (D) 1,950m. Winner: Sa’Ada, Fernando Jara, Ahmad bin Harmash.

PSA DUBAI WORLD SERIES FINALS LINE-UP

Men’s: 
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)

Women's: 
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)

Company%20Profile
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  • Premier League-standard football pitch
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The biog

Name: Sarah Al Senaani

Age: 35

Martial status: Married with three children - aged 8, 6 and 2

Education: Masters of arts in cultural communication and tourism

Favourite movie: Captain Corelli’s Mandolin

Favourite hobbies: Art and horseback ridding

Occupation: Communication specialist at a government agency and the owner of Atelier

Favourite cuisine: Definitely Emirati - harees is my favourite dish

Abu Dhabi GP Saturday schedule

12.30pm GP3 race (18 laps)

2pm Formula One final practice 

5pm Formula One qualifying

6.40pm Formula 2 race (31 laps)

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