UK minister Theresa May and Indian prime minister Modi have agreed to establish a tech partnership. This will look to identify and provide access routes to markets for British and Indian entrepreneurs as well as small and medium enterprises.
“This is an incredibly important partnership and something tech businesses from both countries have been driving for,” Julian David CEO of techUK. The UK currently exports large amounts of digital services to India – with the most up-to-date figures showing the £358 million of digital being exported.
“Our world-leading digital economy is booming, worth more than £116 billion a year and employing more than two million people,” said digital secretary Matt Hancock. This “ambitious UK-India Tech Partnership will bring together some of the best minds working in tech to unlock its future potential and deliver high-skilled jobs and economic growth in both countries,” said Hancock.
The UK is to invest £1m to pilot the approach and then potentially look to invest up to a £13 million by 2022. This will help to establish a network between the partners to increase tech investment, exports and research and development. “Deepening our engagement will open up opportunities for business in both countries and help ensure we maximise the benefits of technology for our societies and citizens,” said David.
