British Prime Minister has announced the creation of a new 40-million pound Fast-Track Start-up Fund.
The fund will invest in Indian start-ups which focuses on India’s emerging technology enterprises.The fund will be supported by both the UK and Indian governments as part of the wider UK India-Tech Partnership.
The two countries has also launched three new bilateral working groups to tackle remaining barriers to trade in (a)food and drink (b)life sciences and (c)healthcare,digital and data services.
The three groups will identify solutions to the key issues in each sector, making recommendations directly to the UK and Indian ministers.These groups were launched as part of the 13th Joint Economic and Trade Committee(JETCO) meeting in UK.
The India – UK JETCO was established on 13th January,2005 to further develop a strategic economic relationship and nurture business led vehicles to enhance bilateral trade and investment.
JETCO provides a forum to United Kingdom companies to enhance their links and develop new partnerships with India business and decision-makers.