India-UK Roadmap 2030 and Enhanced Trade Partnership
The Indian Prime Minister Narendra Modi and the UK Prime Minister Boris Johnson held a virtual bilateral summit. During the summit, the leaders adopted an ambitious “Roadmap 2030”. This will help to elevate the bilateral ties between the countries.
Also, the leaders launched the Enhanced Trade Partnership which is to be implemented through the 1.4 billion investment deal.
- India and UK agreed to work closely in the development of India’s indigenous Light Combat Aircraft Mark 2.
- They will work together to ensure ambitious outcome at the COP26.
- The roadmap will expand India-UK health partnership. It includes vaccines, supply chains, other medical products.
- The leaders agreed to remove the trade barriers between the countries and begin the negotiations of Free Trade Agreement. It is to be noted that India and European Union had been trying to sign the Free Trade Agreement for a long time. They are yet to finalise the negotiations. Now after Brexit, UK is free to sign the agreement with India.
- They agreed on a new cooperation on Maritime Domain Awareness. This includes new agreements on maritime information sharing, invitation to the UK to join the Information Fusion Centre of India in Gurgaon.
- The countries are working on Logistics Memorandum of Understanding.
- They highlighted their commitments on the Indo-Pacific.
- The leaders agreed to build Government-to-Government collaboration on future combat air engine requirement of India.
- They agreed to strengthen cooperation in United Nations Security Council, G20, UNFCCC, WTO, IMF, World Bank, etc.
- They agreed to promote Track 1.5 and Track 2 dialogues between the think tanks of the countries.
- To enhance the engagement in Indian Ocean Rim Association framework
- To explore Indo-Pacific Oceans Initiative
- To implement the Comprehensive migration and mobility partnership by 2022. UK has adopted a new skill based immigration policy.
- To launch UK-India Young Entrepreneurship forum
- Implement “India-UK Together” (SAATH-SAATH). It is a joint cultural exchange programme.
- Increase collaboration to accelerate development of GIFT city
The 2030 vision was based on the re-energising trade, investment and technological collaboration between the countries.
Month: Current Affairs - May, 2021
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