The UK and India governments have signed an agreement to bolster cooperation and investment in multiple sectors including infrastructure and FinTech.
The agreement signed includes a new UK-India Partnership on Infrastructure Policy and Financing that is aimed at opening up infrastructure opportunities in India to the UK commercial market.
As part of the new partnership the UK will help support India’s National Infrastructure Pipeline including setting up a Project Preparation Support Facility cum Centre of Excellence for PPP Projects.
In a joint statement, the agreement will ‘bring together India’s $1.4 trillion National Infrastructure Pipeline and the City of London, the global home of green finance and long term institutional capital.’
The UK’s Chancellor of the Exchequer, Rishi Sunak said: “The UK’s economic and financial relationship with India has never been more important with the global challenges we face.
“We are also committed to working together to lead the global economic recovery as we build back better after the pandemic.”