India-United Kingdom Virtual Summit
Prime Minister Shri Narendra Modi and The Rt Hon’ble Boris Johnson, Prime Minister of the United Kingdom held a Virtual Summit on 4 May 2021.
An ambitious ‘Roadmap 2030’ was launched at the Summit to elevate bilateral ties to a ‘Comprehensive Strategic Partnership’.
The Roadmap will pave the way for a deeper and stronger engagement over the next ten years in the five key areas, namely people-to-people relationship, trade and prosperity, defence and security, climate action and healthcare.
Enhanced Trade Partnership:
Both the Prime Ministers launched an ‘Enhanced Trade Partnership’ (ETP). The ETP aims to unleash the trade potential between the 5th and 6th largest economies of the world and by setting an ambitious target of more than doubling bilateral trade by 2030.
The enhanced trade partnership between India and UK will generate several thousands of direct and indirect jobs in both the countries.
New India-UK ‘Global Innovation Partnership’:
During the Virtual Summit, a new India-UK ‘Global Innovation Partnership’ was announced.
The Global Innovation Partnership is aims to support the transfer of inclusive Indian innovations to select developing countries, starting with Africa.
Both sides agreed to enhance cooperation on new and emerging technologies, including Digital and ICT products, and work on supply chain resilience. They also agreed to strengthen defence and security ties, including in the maritime, counter-terrorism and cyberspace domains.
Both Prime Ministers also exchanged views on regional and global issues of mutual interest, including cooperation in the Indo-Pacific, and G7.