Australia Unveils ambitious roadmap to Strengthen Trade and Investment Ties with India
Australia has unveiled an ambitious roadmap to strengthen and diversify its trade and investment relationship with India. The plan focuses on four key sectors: clean energy, education and skills, agribusiness, and tourism. It includes a USD 16 million investment in a Trade and Investment Accelerator Fund and aims to save Australian businesses USD 2 billion in tariffs. The roadmap outlines strategies to increase two-way investment and engage with Indian-Australian communities and businesses.
"India is an essential partner as we diversify our trade links to boost prosperity for all Australians," Australian Prime Minister Anthony Albanese said.
"This roadmap is critical to helping us fully realise our potential with India, which will be a boon to Australia's economy, our businesses and jobs, and our prosperity," he said.
The roadmap released by Albanese's office also identifies nearly 50 specific opportunities to focus and accelerate Australia's engagement with India in several areas such as defence industries, sports, culture, space, and technology.
Australia's Trade and Tourism Minister Don Farrel, in his comments, referred to the rich and diverse Indian community in that country with strong personal and economic ties. The potential of our relationship with India is almost unmatched, opening a fast growing market of over 1.4 billion people," he said.
Source: https://economictimes.indiatimes.com/news/economy/foreign-trade/australia-unveils-ambitious-roadmap-to-boost-trade-investment-ties-with-india/articleshow/118574864.cms?from=mdr
