UK Minister Liz Truss clinches tech deals during India visit
UK Foreign Secretary Liz Truss announces a series of tech and infrastructure tie-ups with India to boost economies and grow together in a clean and sustainable way.
During a 2-day trip to Delhi and Mumbai, the Foreign Secretary will outline agreements to deepen investment ties between the two countries and work on finance and technical support.
The agreements will help drive forward the Build Back Better World Initiative launched by G7 leaders in June to help meet the enormous clean infrastructure need in the developing world.
The Foreign Secretary wants to strengthen the UK's economic, technology and security links with fast-growing economies and like-minded partners and build "a network of liberty" around the globe. In May, the UK Prime Minister Johnson and Indian Prime Minister Modi agreed on a new roadmap to strengthen our partnership.
The UK Foreign Secretary will meet Indian External Affairs Minister S Jaishankar and Environment Minister Bhupender Yadav in Delhi to outline her vision and discuss areas for closer collaboration. Then in Mumbai, she will visit the UK Carrier Strike Group on its most substantial port visit to date.
She is to announce an £11.5 million UK investment in 2 venture capital funds to support India's transition to cleaner energy during the trip.
And also, a £500,000 UK Research and Innovation (UKRI) investment to build a new virtual network of UK and Indian labs working to promote Net Zero targets in key industries, including glass, cement, and metals.
Liz Truss said, "I want the UK and India to step up their partnership in critical areas like technology, investment, security and defence. India is the world's largest democracy, a tech and economic powerhouse and a vital strategic partner for the UK."
Both the UK and India are known for their tech expertise. Britain has the third-largest number of tech 'unicorns' globally, the name given to a start-up valued at over $1 billion. India has the third-highest number of tech start-ups in the world.