From UPSC perspective, the following things are important :
Prelims level : Global Innovation Partnership
Mains level : Paper 2- India-UK virtual summit
India-UK Virtual Summit
- Prime Minister Shri Narendra Modi and The Rt Hon’ble Boris Johnson, Prime Minister of the United Kingdom held a Virtual Summit today.
- An ambitious ‘Roadmap 2030’ was adopted at the Summit to elevate bilateral ties to a ‘Comprehensive Strategic Partnership’.
- The two Prime Ministers launched an ‘Enhanced Trade Partnership’ (ETP) by setting an ambitious target of more than doubling bilateral trade by 2030.
- As part of the ETP, India and the UK agreed on a roadmap to negotiate a comprehensive and balanced FTA, including consideration of an Interim Trade Agreement for delivering early gains.
- The enhanced trade partnership between India and UK will generate several thousands of direct and indirect jobs in both the countries.
Collaboration and partnerships
- The UK is India’s second-largest partner in research and innovation collaborations.
- A new India-UK ‘Global Innovation Partnership’ was announced at the Virtual Summit that aims to support the transfer of inclusive Indian innovations to select developing countries, starting with Africa.
- Both sides agreed to enhance cooperation on new and emerging technologies, including Digital and ICT products, and work on supply chain resilience.
- They also agreed to strengthen defence and security ties, including in the maritime, counter-terrorism and cyberspace domains.