UK Foreign Secretary to announce deals with India in tech, infra sector

New Delhi: UK Foreign Secretary Liz Truss who is to hold talks with External Affairs Minister S Jaishankar and Environment Minister Bhupender Yadav today will announce a series of tie-ups in the technology and infrastructure sector aimed to boost both economies and help developing countries grow in a clean and sustainable way, the UK High Commission said.
She is to announce a $70 million investment by the Foreign, Commonwealth & Development Office’s investment arm CDC to fund green tech infrastructure projects across India through the joint Green Growth Equity Fund.
Two other tie-ups she will announce are: A 11.5 million pound UK investment in two venture capital funds aimed at supporting India’s transition to cleaner energy and a pound 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.
Truss and Jaishankar will announce a new Strategic Futures Forum, bringing together leading figures from Government, business and academia in both countries to drive closer links in priority areas like tech and security and shape the longer-term, strategic vision for the partnership.
After talks with Jaishankar and Yadav, she will head to Mumbai, where she will visit the UK Carrier Strike Group on its most substantial port visit to date.
Ahead of the visit, 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.
“Closer ties – including in areas like tech and infrastructure – will deliver jobs and growth in both countries, boost developing world economies and help us promote our values on the global stage.”
In Mumbai, Truss will speak to Indian business leaders at a Build Back Better World roundtable to help boost infrastructure in the developing world.
During the India-UK Virtual Summit between the two Prime Ministers held on May 4, 2021, the bilateral relationship between the two nations was elevated to Comprehensive Strategic Partnership.
Truss is also Minister for Women and Equalities. This is her maiden visit to India as Foreign Secretary.