UK and India Launch Technology Security Initiative to Double Trade and Boost Innovation by 2030
July 26, 2024During his first official visit, British Foreign Secretary David Lammy announced the UK-India Technology Security Initiative.
British Foreign Secretary David Lammy emphasized joint action on future challenges for mutual growth, innovation, jobs, and investment.
The UK's Labour Party, after winning elections, aims to reset UK-India relations, including pursuing a free trade agreement initiated in 2022.
The trade deal aims to double trade between the UK and India to $100 billion by 2030, with negotiations paused during the 2024 general elections.
Indian Prime Minister Narendra Modi expressed support for the new technology security initiative and the potential free trade agreement to double trade by 2030.
Both countries aim to strengthen collaboration on climate, trade, technology, and education through the Technology Security Initiative.
India and the UK launched a new 'Technology Security Initiative' (TSI) to enhance collaboration and attract investments, focusing on critical technologies.
The Technology Security Initiative aims to expand collaboration in critical and emerging technologies across priority sectors like telecoms, AI, quantum, health/biotech, and semiconductors.
India aims to become a tech innovation heavyweight through investments in AI supercomputers, semiconductors, and manufacturing advancements.
Both nations plan to establish a joint Centre for Responsible AI and explore quantum technology through dialogues, hackathons, and academic exchanges.
The Technology Security Initiative will strengthen supply chain resilience, explore research partnerships, and enhance semiconductor collaboration.
The TSI will focus on telecom collaboration, research on Open RAN systems, spectrum innovation, and improving network security and performance.
Summary based on 7 sources
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Sources
The Seattle Times • Jul 25, 2024
India and UK launch tech initiative as new British foreign minister makes his first official visitBusiness Standard • Jul 25, 2024
India-UK unveil futuristic Technology Security Initiative; to seal FTA soon