India and UK forge new paths in technology; Set to focus on AI, semiconductors, and critical minerals – Crypto News – Crypto News
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India and UK forge new paths in technology; Set to focus on AI, semiconductors, and critical minerals India and UK forge new paths in technology; Set to focus on AI, semiconductors, and critical minerals

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India and UK forge new paths in technology; Set to focus on AI, semiconductors, and critical minerals – Crypto News

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India and the United Kingdom have unveiled a pioneering technology security initiative aimed at spurring economic growth and deepening bilateral cooperation, reported AP. This announcement coincided with the inaugural official visit to India by the UK’s newly appointed Foreign Secretary.

Under this new agreement, both nations will collaborate on critical technological advancements, spanning areas such as essential minerals, artificial intelligence (AI), semiconductors, and telecommunications. Additionally, the initiative seeks to enhance partnerships in climate action, trade, technology, and education, as stated by British Foreign Secretary David Lammy.

“This agreement signifies tangible steps towards addressing future challenges, from AI to essential minerals. Our joint efforts can unlock mutual growth, drive innovation, create jobs, and attract investment,” Lammy remarked.

During discussions with his Indian counterpart, Subrahmanyam Jaishankar, the two officials also pledged to reinforce defense and security cooperation in the Indo-Pacific region, added the wire report. They addressed various global issues, including the ongoing Russia-Ukraine conflict, according to a statement from India’s Ministry of External Affairs.

Lammy emphasized that his visit to India highlights a primary focus of the new UK government’s foreign policy: reestablishing relations with Europe, both in terms of climate action and engagement with the Global South.

The UK’s Labour Party, having secured a decisive victory in the July 4 elections, aims to “reset and relaunch” UK-India relations. This includes resuming formal negotiations on a free trade agreement, which had been a key objective for former Prime Minister Boris Johnson following the UK’s exit from the European Union in 2020.

In his visit, Lammy also engaged with Indian National Security Advisor Ajit Doval and Prime Minister Narendra Modi. Modi expressed his support for the new technology security initiative and voiced optimism about finalizing a free trade agreement in a social media post.

The trade agreement aims to double bilateral trade, which stood at $50 billion in 2022, by 2030. Johnson had ambitiously aimed to finalize the deal by Diwali in October 2022. However, the 13 rounds of negotiations conducted before the talks were paused due to the 2024 general elections in both countries had not yet yielded a conclusive agreement.

(With inputs from AP)

 

 

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Published: 25 Jul 2024, 12:28 PM IST

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