Australian Prime Minister Anthony Albanese launched a new roadmap for Australia’s economic connection with India. Photo Credit: Soldier System/Department of Foreign Affairs and Business
Australia believes in India. We believe that India has an economically bright future. We believe that it will be the third largest economy in the world by 2030. And we believe that India warns more political influence as its economy grows – which is why we return India’s claim for a seat in the United Nations Security Council.
We also believe that Australia is a natural partner for India’s development because our economies are complementary (we meet India’s needs, and vice versa); Because we are strategically align; And because we are neighbors across the Indian Ocean.
New Roadmap, next stage of relationships
For these reasons, Australian Prime Minister Anthony Albanis launched personally last week New roadmap for Australia’s economic connection with India, Roadmap How Australia can contribute, and benefit from India’s unprecedented growth. Simply say Roadmap It is said that Australia believes in the Indian development story, and the roadmap then clarifies how Australia has a commitment to support skills, resources and that story.
Roadmap Our final economic strategy in 2018 is based on a successful effort. But a lot has changed since then.
Inspired by our free trade agreement, economic cooperation and trade agreement (ECTA), India-Australia relations have increased to a high end of our expectations. Call it a statistical. India’s exports to the world have increased by 35% in the last five years. Not bad, isn’t it? But India’s exports to Australia have increased by 66% – almost doubled as India’s exports to the rest of the world.
This is because India is growing in ways that complement their economy in Australia.
Australia produces things that India will need the next chapter of its development – energy to give strength to the Indian economy; Resources to power India’s manufacturing drive (including important minerals); And training capabilities that India need to make skills to the next generation of Indian professionals and workers.
Roadmap Charts the next stage of our partnership, and shows how Australia can be a part of India’s economic story. It identifies four regions-“Superheavez of Development”-where Australia-India partnership is the most likely. Those superheaves of development are: clean energy; Education and skills; Agricultural business and tourism.
Roadmap Also describes another seven ‘major economic roads’ for mutual prosperity: investment; Take; game; Culture and art; resources; protect; Space and Health. These are areas in which our complementary capabilities can be naturally leveraged.
In preparing our partnership, we are listening closely to India’s ambitions.
A great example is India’s ambition for the manufacture of electric vehicles. When India’s Prime Minister Narendra Modi talks about the number of electric vehicles growing eight times in India by 2030, Australia replied that we have important minerals and raw earth metals to feel that goal. Australia is the world’s largest Lithium producer, and has the second largest reserves in the world.
Support for India’s skill needs
We are also listening carefully to Indian voices about skills needs. And we hear that India needs to maximize their development every year with the right skill and merit. Australian universities are listening, and are willing to provide high quality training required to support Indian ambitions. Australian universities have been the first foreign universities to open campus here in India – in Gujarat International Finance Tech (Gift) City, and soon in Noida (Uttar Pradesh), and in the coming years.
When it comes to economic association with India, Australia claims a ‘super power’. This super power is an Indian migrant, already 10 million strong and the fastest growing population group in our country. Many of these are prominent leaders in Indian-Australian business, government and community. And our new center for Australia India Relations, with the support of of 132 crores from our government, is appropriately chaired by two prestigious Australians of Indian origin. Our Prime Minister launched and launched with one of them Roadmap,
Indian migrant is a bridge
Indian migrant is an invaluable asset in Australia. Indian-Australians deepen our understanding of each other and spark business opportunities. Because our government understands the value of this ‘Manav Bridge’ (as Mr. Modi calls it), we are investing another ₹ 22 crore in our very successful friendship grant program. This program works to maximize the capacity of our diaspora link.
Roadmap Australians indicate that they should look for more opportunities to partnership with Indian counterparts for mutual gains.
And as they do so, it becomes even more important that we carry forward our Cast Economic Cooperation Agreement (CECA), which create a high platform for the next stage of our economic partnership.
As the Australian Prime Minister says, “Australia’s relationship with India is strong, darker and more resulting, which has been anytime – but there is a lot to come. What is really exciting is a sheer scale of opportunities in the near future if we currently correct things… RoadmapThe path ahead looks very clear. ,
Philip Green Australia’s High Commissioner is the High Commissioner of India
Published – March 03, 2025 12:22 pm IST