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Overview of India-UK Virtual Summit 2021;9 MoU’s Signed

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India-UK Virtual Summit held on May 4, 2021The India-UK Virtual Summit 2021 between Indian Prime Minister Narendra Modi & Prime Minister of United Kingdom Boris Johnson took place on 4th May 2021.

i.During the summit, the two leaders adopted ‘Roadmap 2030’ which aims to elevate bilateral ties to ‘Comprehensive Strategic Partnership’.

ii.They also agreed on co-production of military hardware & technology collaboration for combat aircraft

iii.The UK finalised new  deals/trade worth 1 Billion British Pound Sterling (GBP) to create 6,500 jobs in the UK.

iv.They also agreed/announced 9 Memorandum of Understandings (MoUs)/Declarations during the summit.

v.Launch of Enhanced Trade Partnership to double Bilateral trade between the 2 countries by 2030 (current level stands at GBP 23 Billion).

India, UK adopt ‘Roadmap 2030’

i.India & UK have adopted ‘Roadmap 2030’ for elevating relations between the two countries to ‘Comprehensive Strategic Partnership’.

  • It paves ways for deep engagement over the next 10 years in areas of people to people contacts, trade and economy, defence and security, climate action and health.
  • In order to improve ties the two countries signed/announced 9 MoUs/Agreements

MoUs/Declarations

Title Detail
Declaration for Launch of Enhanced Trade Partnership i.For speeding up negotiations on Free Trade Agreement (FTA) between the 2 countries.

ii.It has set a target of more than doubling the bilateral trade by 2030.

MoU on India-UK Global Innovation Partnership (GIP) i.Launch of new GIP between India & UK to support transfer of inclusive, climate smart innovations from India to selected developing countries.

ii.Support will be extended in the form of grants, investment capital and technical assistance.

iii.It will be co-finance equally by India & UK.

MoU on India-UK Migration and Mobility Partnership (MMP) i.To facilitate legal movement of students and professionals and combat illegal migration.

ii.It creates a new scheme for exchange of young professionals.

iii.Under the scheme, each year upto 3000 Indian professionals can avail employment opportunities in the UK for 2 years without being subject to labour market tests.

Joint Declaration of Intent on cooperation in fields of Digital and Technology. i.Signed between UK Department of Culture, Media and Sport & Indian Ministry of Electronics and Information Technology

ii.It aims to deepen cooperation on emerging technologies, digital infrastructure & data policies.

 

MoU for Cooperation in fields of Telecommunications/ICT

 

 

 

i.Signed between the UK Department of Culture, Media and Sport & Indian Department of Telecommunications.

ii.It aims to enhance cooperation in Telecom infrastructure, telecoms diversification and disaster resilience.

Agreement on Customs Cooperation i.Signed between Customs Department of India & UK

ii.It aims to facilitate exchange of information, coordination in the field of customs in accordance with international standards.

Statement of Principles between India & UK on India Energy Security Scenarios Calculator It aims to strengthen cooperation on energy policy and planning between NITI Aayog & Department of Business, Energy and Industrial Strategy (BEIS), UK.
MoU in field of medical products regulation i.Signed between UK’s Medicines & Healthcare products Regulatory Agency (MHRA) & India’s Central Drugs Standard Control Organisation (CDSCO).

ii.To enhance cooperation in areas like pharmacovigilance and medical product regulations through joint conferences & Exchange of Information

 

MoU in Pharmacopoeial Cooperation i.Signed between Indian Pharmacopoeia Commission (IPC) and the British Pharmacopoeia (BP).

ii.For Development of quality standards for medicines.

iii.Standards to ensure quality of innovative and generic medicines supplied to patients in the UK and India.

 

Defence

i.India & UK agreed to expand bilateral defence cooperation through technology collaboration in developing combat aircraft and complex weapons.

  • They discussed how the UK can assist India to build their Light Combat Aircraft (LCA) Tejas Mk2 Aircrafts.
  • The two sides welcomed the finalisation of Defence Logistics agreement.

ii.The two sides agreed to increase maritime co-operation by establishing an annual India-UK maritime dialogue.

  • India invited the UK’s Liaison Officer to visit India’s Information Fusion Centre in Gurgaon, Haryana. It is a key facility which monitors the development and movement of ships in the Indian Ocean Region.
  • Earlier, India & UK had agreed to hold joint exercises between the Armed Forces of two countries to deepen cooperation.

iii.Both leaders assured their support to a free, open, secure cyberspace. They agreed to strengthen partnership through an enhanced India-UK cyber security partnership.

Global Green Grids Initiative

Both Countries agreed to launch the Green Grids Initiative at the 26th United Nations Climate Change Conference of the Parties (COP26) 2021, which is set to take place from November 1-12, 2021 in Glasgow, UK.

  • The initiative aims to promote climate resilient infrastructure through a new facility for Small Island Developing States under the Coalition for Disaster Resilient Infrastructure (CDRI).
  • They are also set to launch a India-UK Partnership on Forests.

India, UK to enhance Partnership on Vaccines

i.India & UK have agreed to enhance partnership between the 2 countries on Vaccines. They agreed to expand & enhance the existing UK-India Vaccines partnership.

  • They highlighted the successful collaboration between the Oxford University, AstraZeneca and the Serum Institute of India (SII) for development of ‘Covishield’ COVID-19 vaccine.

ii.SII is set to invest 240 Million Pounds in the UK to expand its business & set up a new sales office. It is expected to generate a large number of jobs.

  • The investment is part of plans for a 1 Billion Pound India-UK Enhanced Trade Partnership.

HAL signs MoU with Rolls-Royce

Hindustan Aeronautics Limited (HAL) has signed an MoU with Rolls-Royce to establish packaging, installation, marketing and services support for Rolls-Royce MT30 Marine engines in India.

Recent Related News:

i.January 27, 2021, 14th meeting of the India-United Kingdom Joint Working Group (JWC) on Counter-Terrorism 2021 was held virtually on 21st and 22nd January, 2021

ii.On March 16, 2021, India-Finland Virtual Summit 2021 was held between India’s Prime Minister Narendra Modi & Finland’s Prime Minister Sanna Marin.

About United Kingdom

Prime Minister – Boris Johnson
Capital – London
Currency –  British Pound Sterling (GBP)