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 in growing sectors such as health and technology.
The deal includes a £240m investment by the Serum Institute of India, which will support clinical trials, research and possibly the manufacturing of vaccines.
British businesses have also secured export deals with India worth more than £446m, which are expected to create more than 400 British jobs.
This afternoon the Prime Minister will hold a virtual meeting with Prime Minister Modi to agree a deeper relationship between the UK and India across trade, health, climate and defence. This includes agreeing an Enhanced Trade Partnership. The partnership will unlock new opportunities for British businesses exporting to India and Indian businesses investing in the UK.
Trade between the UK and India is already worth around £23bn a year, supporting more than half a million jobs, according to the government.
Prime Minister 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 countries to new highs.”
Source: BBC News
For further information, visit gov.uk.