The Serum Institute of India (SII) will be investing 240 million pounds in the United Kingdom. It was also announced ahead of virtual talks between Mr Johnson and Prime Minister Narendra Modi on Tuesday.
The investment is a part of a large tranche of over 533 million pounds of new Indian investment into the UK, expected to create 6,500 jobs in sectors such as health and technology.
About Serum
The Serum Institute of India (SII) is the world’s largest vaccine maker by volume, and has been at the forefront of producing the lower-cost AstraZeneca coronavirus shot.
SII had already started phase one trials in the UK of a one-dose nasal vaccine for coronavirus, in partnership with Codagenix INC.
New sales office
Serum will also open a new sales office in the UK that is expected to generate new business worth over $1 billion.
In total there will be £533 million (Rs 5,400 crore) in new Indian investment in the UK, creating around 6,500 jobs.
This includes the creation of 1,000 jobs in the UK by the likes of Infosys and HCL Technologies and new export deals with India worth more than £446 million (Rs 4,500 crore).
Comment from UK
Johnson , Prime Minister – “In the decade ahead we will double the value of our trading partnership with India and take the relationship between our two countries to new highs.”
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