Asustralia Outlines 50 Specific Opportunities With India In Defence, Sports, Space & Technology

(MENAFN- KNN India) New Delhi, Feb 27 (KNN) Australia has launched an ambitious roadmap to enhance trade and investment ties with India, identifying four key "superhighways of growth": clean energy, education and skills, agribusiness, and tourism.

The initiative aims to expand economic cooperation and increase two-way investment between the two nations.

"India is an essential partner as we diversify our trade links to boost prosperity for all Australians," said Prime Minister Anthony Albanese.

The roadmap, released by Albanese's office, outlines nearly 50 specific opportunities to accelerate engagement in sectors such as defence industries, sports, culture, space, and technology.

He emphasized that the roadmap would play a crucial role in unlocking the full potential of Australia-India trade relations, benefiting businesses, jobs, and the economy.

To support the initiative, the Australian government has pledged USD 16 million for an Australia-India Trade and Investment Accelerator Fund, aimed at helping Australian businesses tap into the Indian market.

Foreign Minister Penny Wong highlighted that strengthening economic ties with India is a key aspect of Australia's statecraft. "By boosting our economic ties with India, we are not only creating more jobs and opportunities for Australians but also advancing our shared interest in a peaceful, stable, and prosperous Indo-Pacific," she said.

Trade and Tourism Minister Don Farrel pointed to the vital role of Australia's Indian community in fostering these ties. "The potential of our relationship with India is almost unmatched, opening a fast-growing market of over 1.4 billion people," he noted.

Additionally, Australia has announced an extra USD 4 million for the Maitri ('friendship') Grants Programme to strengthen people-to-people, business-to-business, and cultural connections.

The government also reiterated its commitment to finalizing a new free trade agreement with India to unlock further opportunities for Australian businesses.

(KNN Bureau)

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