SII TO INVEST 240 MILLION POUNDS IN UK: BORIS JOHNSON …

Article by Meghana Maggie

HELPING INDIA FROM DROWNING INTO OCEAN LIKE 2^nd WAVE OF COVID-19!!!

The announcement comes to a couple of hours ahead of a virtual bilateral summit between our honorable Prime Minister and his British counterpart Boris Johnson. SII is already running phase-1 trials of its new one-dose nasal vaccine in the UK, which may be produced in the country once approved.

SII CEO – Adar Poonawalla said in an interview that he was under extreme duress after being pressurized for giving priority access to unnamed political leaders. The SII (SERUM INSTITUTE OF INDIA) will be investing 240 million pounds in the UK through the opening of a new sales office, British Prime Minister Boris Johnson office announced late on May 3^rd in an official statement. The investment is a part of a large tranche of over 533 million pounds of new Indian Investment into the UK, expected to create 6500 jobs in sectors as health and technology it said.

The sales office is expected to generate new business worth over $1 billion, £200 million of which will be invested into the UK. Serum’s investment will help the UK and the rest of the world to defeat the coronavirus pandemic and other deadly diseases – statement said. However, it added that SII had already started phase one trials in the UK of a one-dose nasal vaccine for coronavirus, in partnership with Codagenix INC. This is expected to be produced in the UK itself if approved, experts have said.

“The latest announcement by Johnson includes new export orders worth 446 million pounds, received by British businesses from India. This includes a surgical robotic system which helps surgeons perform minimal access surgery which is being rolled out in INDIA”. At the virtual bilateral summit on May 5, both leaders are also set to sign off on a new Enhanced Trade Partnership aimed at paving the way for a Free Trade Agreement between both nations in the future. The UK's current bilateral trade with India stands at around 23 billion pounds a year. Meanwhile, 10 Downing Street has also squarely stressed the importance of India to its future economic plans.

"The Partnership agreed today will set the ambition to double the value of UK-India trade again by 2030 and declares our shared intent to begin work towards a comprehensive Free Trade Agreement. With almost 1.4 billion people, India’s population is bigger than the EU and US combined and by far the largest market the UK has committed to negotiating a trade deal with to date," the statement said. Last week, the UK sent medical supplies worth 6 million pounds, including thousands of ventilators to help India’s fight against COVID-19. Also, the British Asian Trust has raised over 1.6 million pounds in the last week through their emergency appeal and UK business leaders have mobilised in response to the Indian High Commission’s request for vital equipment.