India and Britain in the Month of March 2013 signed a multi-million-pound agreement to support industry and businesses by working together on the commercialisation of research in key areas like energy and healthcare.
The deal is supposed to help build and strengthen links between countries and to build the international partnerships between businesses so vital in today’s global economy.
Highlights of the Deal
• As part of the deal, Global Innovation and Technology Alliance (GITA) sponsored by the Indian government’s Department of Science and Technology and UK’s Technology Strategy Board (TSB) will support UK and Indian businesses and academics in joint R&D and innovation projects over a three-year period.
• The deal is meant for strengthening the UK-India research and innovation partnership.
• The latest agreement is the first-ever international partnership the Technology Strategy Board (TSB), Britain’s government-sponsored innovation agency, has signed outside Europe.
GITA, a not-for-profit PPP company, is promoted jointly by the Confederation of Indian Industry (CII) and the Technology Development Board of the Indian government’s Department of Science and Technology.