UK and India announce $1.4bn private sector investments

The deal includes investments by Indian vaccine make Serum Institute and is a step towards a full free-trade pact.

The United Kingdom and India have announced one billion UK pounds ($1.39bn) of private-sector investment and have committed to seeking a free trade deal. This was ahead of a virtual meeting between Prime Minister Boris Johnson and Indian leader Narendra Modi on Tuesday. The meeting replaces an in-person visit Johnson had planned to make last month to deepen cooperation as the UK seeks new trading partners after leaving the European Union. That visit was cancelled due to surging COVID-19 cases in India. “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.