Australia's Confidence in India's Growth
Australia believes in India’s future as a major global economy, expecting it to become the third-largest economy by 2030.
Australia supports India’s bid for a permanent seat on the UN Security Council as India’s economy grows.
Australia views itself as a natural partner for India, with complementary economies and shared strategic interests.
The New Roadmap for Economic Engagement
Australian Prime Minister Anthony Albanese launched a new Roadmap to strengthen economic ties with India.
The roadmap focuses on how Australia can support India’s growth while benefiting from it, with a focus on key sectors
Australia’s exports to India have grown faster than exports to other countries, highlighting the growing relationship.
Key Areas of Collaboration
The Roadmap identifies four key sectors for growth: clean energy, education & skills, agribusiness, and tourism.
Additional sectors of focus include investment, technology, defence, resources, sports, culture, space, and health.
Australia’s vast resources (like lithium and cobalt) align with India’s needs, especially in electric vehicle manufacturing.
Supporting India’s Skill Development
Australia plans to help India train two crore people annually by providing high-quality education and skills training.
Australian universities have opened campuses in India, with more expected in the future.
The Role of the Indian Diaspora
The Indian-Australian diaspora is seen as a key asset, strengthening business and cultural ties between the two nations.
Australia is investing in initiatives like the Maitri grants program to maximize diaspora links and business opportunities
Future Prospects
The Comprehensive Economic Cooperation Agreement (CECA) will further elevate the economic relationship.
The Roadmap offers a clearer path for deeper, more consequential ties, with immense future opportunities if the partnership is nurtured well.
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