UK announces new trade and investment deals with India worth £1bn

According to details, the Prime Minister of UK Boris Johnson has announced that the new deals will bring in more than £533m of new investment from India into the country, resulting in creating more than 6,000 job opportunities.

The premier said that the new partnership would not only enhance economic cooperation between the two countries, but also pave the way for a future UK-India Free Trade Agreement.

"The economic links between our countries make our people stronger and safer," said Mr Johnson.

The deal also includes a £240m investment by the Serum Institute of India, which will assist clinical trials, research and possibly the manufacturing of vaccines.

A virtual meeting between Boris Johnson and Indian Prime Minister Narendra Modi is expected to take place in this regard.

The Serum, in partnership with Codagenix, has already begin phase one trials in the UK of a one-dose nasal vaccine for Covid-19.

The deals will pave the way for more than 1,000 new UK jobs in health and tech industries.

"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," said Mr Johnson.

In return, India is expected to push UK to make the entry visa requirements for its workers and students to be eased.