“India-UK Virtual Summit”

Contents

• 1
• 2 What is the News?
• 3 Initiatives launched during the India-UK Virtual Summit:
• 4 Enhanced Trade Partnership(ETP):
• 5 India-UK ‘Global Innovation Partnership’:

What is the News?

Indian Prime Minister and the Prime Minister of the United Kingdom has held a Virtual Summit.

Initiatives launched during the India-UK Virtual Summit:

Comprehensive Roadmap 2030:

• The Roadmap 2030 was launched during the summit. The Road map aims to elevate India-UK ties to a ‘Comprehensive Strategic Partnership’ by 2030.
  • Currently, India and the UK enjoy a Strategic Partnership since 2004.
• Key Areas: The Roadmap will pave the way for expanding and deepening India-UK cooperation over the next decade. The road map focuses on five key areas. Such as people-to-people relationship, trade and prosperity, defence and security, climate action and healthcare.

Enhanced Trade Partnership(ETP):

• Enhanced Trade Partnership(ETP) was launched to bring out the true trade potential between India and UK. It has also set an ambitious target of more than doubling bilateral trade by 2030.
  • Currently, India and the UK are the fifth and sixth-largest economies of the World respectively.
• As part of the ETP, India and the UK agreed on a roadmap to negotiate a comprehensive and balanced FTA. Both governments will also consider an Interim Trade Agreement for delivering early gains.

India-UK ‘Global Innovation Partnership’:

• It was launched with the aim to support the transfer of inclusive Indian innovations to select developing countries, starting with Africa.
  • UK is India’s second-largest partner in research and innovation collaborations

Comprehensive Partnership for Migration and Mobility:

• Both countries also initiated a comprehensive partnership on migration and mobility. The partnership aims to facilitate the mobility of students and professionals between the two countries.
• The agreement allows young Indian and British nationals to work and live in each other’s countries.
• Further, it will also enhance and facilitate the processes of returning Indian nationals who stayed in the UK illegally and vice versa.
• The agreement also ensures greater cooperation around organised immigration crime.

Other Cooperation Areas:

• The two countries have agreed to enhance cooperation on new and emerging technologies. This includes Digital and ICT products, and work on supply chain resilience.
• They also agreed to strengthen defence and security ties. This includes the maritime, counter-terrorism and cyberspace domains.

Source: PIB

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