Adar Poonawalla’s company Siram Institute of India is going to invest around Rs 2400 crore in the UK. According to a report, the company is going to invest in making vaccine related research and clinical trial facilities, but may also consider vaccine production in future.
As it is known, the Pune Sitam Siram Institute of India is the world’s largest vaccine producer and in collaboration with Astra Janeca is making a vaccine called Covishield which is being used in India to prevent corona infection. The company is playing a major role in vaccination to prevent corona infection not only in India but around the world. The current production capacity of the company in India is 7 crore doses per month and by July of this year, this capacity will increase to 100 million doses per month.
One released from the office of British Prime Minister Boris Johnson Press release It has been reported that under this scheme of investment, the company will set up a sales office in the UK for research and clinical trials on the vaccine, as well as to start the first phase clinical trial of a single-dose nasal vaccine in the UK. is. The nasal vaccine can be used as a common nasal drop. The release also stated that the Serum Institute’s investment is part of a larger trade agreement between India and the UK and that this investment is expected to provide employment to about six and a half thousand people.
The announcement is considered crucial to the trade agreement between India and Britain ahead of the virtual talks between India’s Prime Minister Narendra Modi and British Prime Minister Johnson on Tuesday 4 May. The trade agreement between the two countries is also important because the UK considers India a big market for its products after Brexit came out. It is different that India itself now Make in India And Self-reliant india As per the schemes such as production for its own needs, it aspires to become an important center of production for the world. In such a situation, how much trade agreement between the two countries will be possible, it will be a matter to be seen.
There is also speculation that this announcement of investment by Siram Institute will be seen in India from a different perspective, but in his interview to a UK newspaper, Poonawalla said that he has gone there to meet his investors and share holders. Perhaps one reason behind the presumption was that in the same interview, he told the British newspaper, referring to the threat he received, that what he was told, calling it a threat would be like underestimating. These projections should now be put to rest as Indian companies along with the Ceram Institute have announced investment in the UK and these announcements are part of a larger India-UK trade deal with around twenty Indian companies in the UK for IT, biotech And will invest in sectors like Pharma.
These announcements are evidence of the strengthening trade relations between India and Britain and have come at a time when there is going to be a virtual summit between Prime Minister Narendra Modi and British Prime Minister Boris Johnson. Investments in the UK by Indian companies are also evidence of India’s industry’s credibility and technical competence in developed countries.