Britain will no longer give India financial aid from 2015 but will in the future support areas like trade and investment and health.
After reviewing the programme and holding discussions with the Government of India this week, we agreed that now is the time to move to a relationship focussing on skills-sharing rather than aid.
Having visited India I have seen first hand the tremendous progress being made. India is successfully developing and our own bilateral relationship has to keep up with 21st Century India. It’s time to recognise India’s changing place in the world.
It is of course critical that we fulfil all the commitments we have already made and that we continue with those short-term projects already underway which are an important part of the UK and Government of India’s development programme.
More top news
It is going to feel far from spring-like other the next few days as we head into March.
Sam Galsworthy, uncle of missing Becky Watts, has spoken about the family's anguish as the search for her continues and they wait for news.
An online video showing a naked man apparently falling down the outside of Buckingham Palace has split opinion online - is it a hoax?