Prime Minister Narendra Modi along with British Prime Minister Boris Johnson are all geared up to unleash a “Enhanced Trade Partnership” for further enhancing the bilateral cooperation amid the virtual summit scheduled on Tuesday, a part of London’s post-Brexit attempts to conclude the recent trade deals throughout the world.
The partnership constitutes lower trade barriers and enhanced market accessibility for some British items such as fresh fruits and medical devices. The partnership has also been termed as a trigger to a possible free trade agreement.
Prior to the virtual summit, Johnson declared a package of trade and investment deals with India estimated to be at £1 billion which compromises of £240 million investment directed by Pune-based Serum Institute of India (SII) in the UK, which is expected to open up around 6,500 employment opportunities.
The virtual summit will also unravel deeper into other dimensions such as healthcare, climate action and defence.
The trade barriers put forth by the Enhanced Trade Partnership comprises of taking away the restrictions to give permit to the fruit producers throughout the UK for further exporting their produce to India for the very first time, and also enhanced access for medical devices through accepting from “UK Certificates of Free Sale” in India, thus eradicating the need for additional accreditation about the British medical devices which have been exported in India.
According to a statement released from the UK Prime Minister’s Office, both the countries will be dedicated towards taking away the barriers for the legal services sector which curbs the UK lawyers from practising international and foreign law in India. This initiative “could significantly increase UK legal services exports and UK legal services imports from India.”
- Melukote – Vairamudi Festival – 2022
- Bengaluru metro to function on weekdays, closed on weekends from July 1
- India provides reciprocal exemption of EU Digital COVID Certificate to include Covishield, Covaxin
- PM Modi will address the Digital India beneficiaries at 11 am tomorrow
- Pvt hospitals will obtain Covid vaccine doses via CoWIN starting from July 1