Of the $ 533 million ($ 15,615 million) new investment package from India in the UK, $ 240 million ($ 277 million) is owned by the Serum Institute of India, one of the world’s largest vaccine manufacturers, to fund the sales office and medical research.
Serum Company is the leading manufacturer of the Astrogenega vaccine developed by scientists at the University of Oxford.
Last week, the United Kingdom sent 1,200 fans, 495 oxygen concentrators and three oxygen production units to India, where the second wave of the Kovit-19 health care system was overburdened.
The company, in collaboration with Codegenics, has launched the first phase of clinical trials in the United Kingdom for a single-dose nasal vaccine against Govit-19.
On the British side, the government estimates that the new contracts are worth 44 446 million (15 515 million) in exports, such as robotic surgery methods.
Prime Minister Boris Johnson is scheduled to speak with Indian envoy Narendra Modi via video conference this afternoon to further strengthen ties between the UK and India in the areas of trade, health, environment and security.
“Over the next decade, with the help of the new partnership and a broader free trade agreement signed today, we will double the value of our trade partnership with India and take the relationship between the two countries to new heights,” Johnson said.
Trade Minister Liz Truss expressed his desire to reach a free trade agreement by Sky News by the fall.
Currently, trade between the two countries is estimated to move 23 23 billion (ில்லியன் 27 billion) and support half a million jobs.
The announcement is scheduled for Saturday, a few days before the EU-India summit, one of the central events of the EU Council’s Portuguese presidency, taking place in the first half of the year.
Initially planned to take place in person, with the participation of Narendra Modi in Porto, the meeting was virtual due to the epidemic situation in India.
Negotiations between the EU and India over a trade deal take place eight years after 16 consecutive failed negotiations.