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Government of India and ADB sign $23 million loan agreement to strengthen the fintech ecosystem in India

The project will establish an International Fintech Institute (IFI) to strengthen fintech education, boost start-up success rates, and drive fintech research and innovation

#Fintech #Economy #Technology


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🇮🇳🤝🇬🇧 INDIA-UK JOINT STATEMENT

KEY POINTS :-

TRADE

1. Both leaders looked forward to the ratification of the India–UK Comprehensive Economic and #Trade Agreement (CETA) as early as possible to realise its benefits.

2. The Prime Ministers welcomed the resetting of the Joint Economic and Trade Committee (JETCO) which will support the governance and utilisation of the CETA and drive forward our wider trade and investment partnership.

3. Opportunities for investment in both countries in the focus sectors of construction, infrastructure and clean energy, advanced manufacturing, #Defence, #Education, #Sport, #Culture, financial and professional business services, #Science, Technology and innovation, consumer goods and food.

Technology and Innovation

4. Building on the landmark Technology Security Initiative (TSI) –

(1) India–UK Connectivity and Innovation Centre, a joint hub focused on developing AI Native Network for 6G, Non-Terrestrial Networks (NTNs), and Cyber Security for Telecoms.

(2) India–UK Joint Centre for #AI, advancing responsible and trustworthy AI across #Health, #Climate, #Fintech, and Engineering Biology.

(3) India-UK Critical #Minerals Processing and Collaboration to build concrete partnerships which strengthen and diversify Critical Mineral supply chains and deliver investment and growth in both nations. They also announced Phase 2 of the UK-India Critical Minerals Supply Chain Observatory to expand Mineral coverage.

5. India-UK continues to work together to advance Biotechnology with Strategic partnerships being signed between institutions of both countries.

Defence and Security

6. Both countries to expand Bilateral exchanges between the Armed forces of India and UK through Joint Exercises, Training and Capacity building and to build a robust #Maritime security collaboration in the Indo-Pacific, including establishment of the Regional Maritime Security Centre of Excellence (RMSCE) under the Indo-Pacific Oceans Initiative (IPOI).

7. An arrangement that will see Indian Air Force Qualified Flying Instructors integrated into UK Royal Air Force training, alongside an agreement that will facilitate our strong training and education relationship.

8. India-UK Inter-Governmental Agreement (IGA) on cooperation in developing Maritime Electric propulsion systems for Indian Naval platforms.

9. Agreement to proceed via G2G route on an initial supply of Lightweight Multirole Missile (LMM) Systems to India.

10. Counter Radicalisation and Violent extremism; combat financing of terrorism and the cross-border movements of Terrorists, prevent exploitation of new and emerging technologies for terrorist purposes; enhance cooperation in information sharing, Judicial Co-operation, Capacity building; and strengthen Bilateral and Multilateral Co-operation in these spheres, including at UN and FATF.

Climate and Energy

11. Reaffirmed the importance of collaboration to achieve Net-Zero goals. India-UK Climate Finance Initiative to enable scaling up of Climate finance, unlocking #GreenEnergy Growth. A new joint investment in the Climate Tech Start-up Fund was announced.

12. The Leaders welcomed the establishment of Offshore Wind Taskforce.They reiterated their intent to explore possibilities for working together through the Global Clean Power Alliance (GCPA).

Education, Culture and People to People

13. Opening of Campuses of Nine leading UK Universities in India.

Regional and Multilateral Cooperation

14. Shared commitment to Global peace and a rules-based International Order, promoting reformed Multilateralism, including reform of the United Nations Security Council (UNSC). UK supports India’s legitimate aspirations for permanent membership in the UNSC.

15. Expressed support for a just and lasting peace in Ukraine ; peace and stability in the Middle East, calling for a 2 State Solution between Israel & Palestine

#Geopolitics #Economy
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