India, UK to ink £1 bn trade deal
BAKU, Azerbaijan, May 4
A head of the virtual summit between PM Narendra Modi and UK PM Boris Johnson, the British government announced a trade and investment deal worth 1 billion pounds with India.
The two leaders are expected to formalize the Enhanced Trade Partnership during their talks later on Tuesday. The ETP will set the ambition to double the value of the bilateral trade by 2030 and declare a “shared intent” to work towards a comprehensive Free Trade Agreement.
As per Downing Street, the deal envisages the creation of more than 6,500 jobs and over 533 million pounds of new Indian investment into the UK.
The deal comes amidst reports that the two countries are close to signing a “migration and mobility partnership”, which could see thousands more Indian students enrol at UK universities in exchange for illegal Indian migrants being sent back.