Highlights:

  • United Kingdom’s foreign secretary began her India visit on Friday
  • UK will disclose a series of tech and infrastructure deals, involving a $70million investment
  • Truss and India’s external affair minister S Jaishankar will disclose the “Strategic Futures Forum”

Liz Truss, United Kingdom’s foreign secretary began her India visit on Friday. It is expected that the UK will disclose a series of tech and infrastructure deals, involving a $70million investment to fund green tech infrastructure projects around India.

As a part of the India-UK 10-year roadmap, Truss and India’s external affair minister S Jaishankar will disclose the “Strategic Futures Forum”, gathering leading figures from government, business, and academia of both countries to bring close connection in key areas namely tech and security and to shape the long term, strategic vision for the bilateral partnership.

The tech and infrastructure deals are to be finalized during Truss’ two-day visit that eyes to strengthen jobs and increase green growth. The UK foreign secretary will reveal the $ 70 million investments by the Foreign, Commonwealth and Development Office’s investment arm CDC to fund green tech infrastructure projects across India through the joint Green Growth Equity Fund.

Truss will further declare an 11.5-million-pound British investment in two venture capital funds targeted at supporting India’s transition to cleaner energy. A statement from the British high commission reads, “Both funds will return a profit to the UK taxpayers and make use of UK expertise.”

Furthermore, there will be an investment of around 500,000 pounds by the UK Research and Innovation (UKRI) to develop a new virtual network of Indian and British labs working to promote net-zero targets in key industries like glass, cement, and metals.

Prior to her arrival in India, Truss noted, “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.”

She continued that closer ties between the two countries in areas related to 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. The foreign secretary will also plan agreements to deepen investment ties between both sides and work together on finance and technical support packages for the developing world.

The statement cited, “The deals include more tech transfer and knowledge sharing with developing countries alongside heavy capital investment, a model that the UK is looking to replicate with partners around the world.” It is expected that these agreements will support to drive forward the “Build Back Better World” initiative introduced by G7 leaders in June to achieve the huge need for clean infrastructure in the developing world.

Truss aspires to boost Britain’s economic, technology and scrutiny links with fast-growing economies and like-minded partners and establish “a network of liberty” around the world. The statement further added, “closer ties with like-minded democracies such as India are key to that ambition”.

The roadmap 2030 for India-UK ties was finalized by PM Narendra Modi and his British counterpart Boris Johnson at their virtual summit in May. Further, Jaishankar and Truss will meet environment minister Bhupendra Yadav in Delhi to exchange views on areas of collaboration.

During the meeting with the environment minister, Truss is likely to talk about climate targets and emphasize the importance of making concrete progress on climate change before the COP26 Summit in Glasgow next month. She will remark that India already leads the world in renewable technology and express her hope that the country will commit to a “more ambitious Nationally Determined Contribution”.

The foreign secretary will also travel to Mumbai, where she is scheduled to meet the UK carrier strike group, which is headed by Britain’s largest warship, the aircraft carrier HMS Queen Elizabeth. She will meet Indian business leaders at the Build Back Better World roundtable in Mumbai on Saturday to strengthen infrastructure in the developing world.

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