India, UK unveil 10 year roadmap for Bilateral Trade Partnership

The Prime Minister of India, Shri Narendra Modi and his British counterpart Boris Johnson held a virtual Summit meeting. During the Summit meeting, both the leaders unveiled an ambitious 10-year road map to elevate the India-UK bilateral relationship to a comprehensive strategic partnership. The UK prime minister Boris Johnson announced a new India-UK trade investment worth £1 billion.

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Apart from this, India and the UK inked nine pacts.

• These pacts were in areas such as migration and mobility, digital and technology, telecommunications, energy and medicines, counter-terrorism, besides agreeing to boost collaboration in dealing with climate change through a new partnership on renewables and power.
• They also launched Enhanced Trade Partnership, which included negotiation for a comprehensive Free Trade Agreement (FTA), including consideration of an interim trade agreement to deliver early gains.
• The two nations set an ambitious target of more than doubling bilateral trade by 2030.

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