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Union Cabinet gives ex-post facto approval to MoU between India, UK on Global Innovation Partnership

06 May 2021 Evaluate

With an aim to foster the innovative ecosystem in India, the Union Cabinet has given ex-post facto approval to the signing of Memorandum of Understanding (MoU) between the Ministry of External Affairs of the Government of Republic of India and Foreign, Commonwealth and Development Office (FCDO) of the United Kingdom on Global Innovation Partnership (GIP).

GIP innovations will focus on Sustainable Development Goals (SDG) related sectors thereby assisting recipient countries achieve their SDGs. Through seed funding, grants, investments and technical assistance, the partnership will support Indian entrepreneurs and innovators to test, scale up and take their innovative development solutions to select developing countries.

The innovations selected under GIP would accelerate the achievement of Sustainable Development Goals and benefit the base of the pyramid populations thus promoting equity and inclusivity in recipient countries. GIP will also develop an open and inclusive e-market place (E-BAAZAR) for cross border innovation transfer and will focus on results based impact assessment thereby promoting transparency and accountability.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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