India, UK Agree On $1.2 Billion Investment In Green Projects, Renewable Energy

The India-UK EFD marked the signing off of a $1.2-billion package of public and private investment in green projects and renewable energy to boost India's green growth ambitions.

The industry has welcomed a positive step towards a possible India-UK Social Security Agreement, a long-standing demand of Indian businesses operating in Britain to cut down on the additional cost burden associated with bringing in skilled Indian professionals on a short-term basis. The 11th India-UK Economic and Financial Dialogue (EFD) between Finance Minister Nirmala Sitharaman and UK Chancellor Rishi Sunak, which took place via videoconference on Thursday, ended in a joint statement that covered a wide range of areas from climate change cooperation to financial services investment boost. Also covered in the statement was a commitment to hold talks that would look to address the social security or pension contribution payments for Indian professionals only in the UK temporarily. "The UK and India committed to a joint dialogue, including relevant stakeholder participation, for mutual exchanges and sharing of information concerning the possibility of signing a Social Security Agreement. The first meeting took place on 26th August 2021," notes the joint statement.