Britain and India have agreed to strengthen the economic relationship, including over financial services and coronavirus research, the two nations announced Wednesday.
As per British finance Minister Rishi Sunak statement- Today we set out our ambition for even stronger ties, with an agreement that will increase investment, and generate and secure jobs in the UK. It comes also as the UK seeks new trading opportunities following Brexit. The new agreements included opening up infrastructure opportunities in India to UK commercial expertise and financing.
The two countries will also work to eradicate regulatory and market access barriers for U.K and Indian firms, while ties over fintech and green finance will be deepened. There will be also research collaboration worth up to 8 million pounds, ie in USD10.2 million, to understand the impact of Covid on South Asian populations in the UK and India The UK's economic and financial relationship with India has never been more important with the global challenges we face," British Finance Minister added in a statement. Since the UK's first EFD with India in 2007, bilateral trade has more than doubled to nearly 24 pounds billion in 2019..
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