trade
trade

Britain has agreed a one billion pound (1.39 billion dollar) trade deal with India which the British government says will create more than 6,500 new jobs.

Around 533 million pounds worth of investment into Britain will come from India, which includes 240 million pounds of investment into vaccines by the Serum Institute of India.

Around 446 million pounds worth of export deals have also been agreed by the two nations as Britain looks for various agreements across the world having exited from the European Union.

On Tuesday, British Prime Minister Boris Johnson will hold a virtual meeting with Indian Prime Minister Narendra Modi to discuss future co-operation between Britain and India with regards to trade, health, climate and defence.

The British government added that the partnership already agreed will double the value of British-Indian trade by 2030.

The so-called Enhanced Trade Partnership sees non-tariff barriers on fruit being lowered, which means fruit producers from Britain can now export apples, pears and quince to India for the first time.

The barriers have also been lifted on medical devices, meaning it is now easier to sell devices to the Indian market.

“Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer,” Johnson said in a statement.

“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.”

He added he hoped the new partnership would take the relationship between India and Britain to “new highs.”

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