Economy · Industry · International

India and UK agree on a $3.2 bn pound deal on enegry and climate change.

PM Modi and his UK counterpart David Cameron agreed on $3.2 billion pound deal on energy and climate change . The agreement comes ahead of the Paris climate summit to be held earlier next month .The two countries reaffirmed the importance of the issue of climate and energy change and stressed on global reforms in order to reduce the damage done due to increasing global footprint.The countiries also focussed on economic growth and energy security in recent times.

“The UK and India’s partnership on energy is going from strength to strength. We share world-class expertise in research and innovation. The UK’s experience in green finance and technology in particular makes us well-placed to work together to promote secure, affordable and sustainable supplies of energy and address climate change,” said UK energy and climate change secretary Amber Rudd.

“The upcoming talks in Paris will be a crucial moment in the fight against climate change and I am pleased to be able to work closely with India to ensure that the deal we secure helps to keep the below 2 degree limit on global warming within reach,” she said in a joint statement for both the countries.

The pacakge will include 3.2 billion pound of commercial agreement , joint research and initiatives to share scientific , commercial and financial policy expertise. The idea is to create a knowledge share on research, development and deployment of clean energy.

The two prime ministers also welcomed the completion of negotiations of Nuclear Cooperation Agreement and the signing of a Memorandum of Understanding (MoU) related to civil nuclear collaboration between India and UK.

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