British PM announces Indian investment deals ahead of UK-India summitAhead of the U.K.-India bilateral summit, Prime Minister Boris Johnson has announced £1 billion investment deals by Indian companies that will create 6,500 jobs in the U.K. The biggest in the investment deals is by the Serum Institute of India (SII) amounting to £240 million. The investment by the SII is aimed at the firm’s vaccine business in the U.K. and a new sales office, said an official statement. “The sales office is expected to generate new business worth over $1 billion, £200 million of which will be invested in the U.K. Serum’s investment will support clinical trials, research and development and possibly manufacturing of vaccines,” said the official statement. Prime Minister Narendra Modi and Mr. Johnson will hold a virtual summit meeting on Tuesday when both sides will hold a wide ranging discussion covering trade, health, climate and defence.

Source: The Hindu May 03, 2021 21:48 UTC