Informed by over 400 consultations with private firms and public institutions in every Australian state and territory, and in India, the Roadmap outlines how the Australian government intends to seize the opportunity that its relationship with India presents.
It also looks at other prospective sectors like defence industries, sports, culture, space and technology, and highlights the unique insights of Indian-Australian communities and the role of state and territory governments, an official release said.
The Roadmap builds on the 2018 ‘India Economic Strategy to 2035’, refining and adapting Australia’s approach in response to economic, environmental and geostrategic developments.
“We begin implementing the Roadmap today [February 26] by launching a new Australia-India Trade and Investment Accelerator Fund, to create an even better enabling environment for Australian firms – small, medium and large – to seize new commercial opportunities,” Albanese said.
“And we are expanding our flagship Maitri Grants programme, which is committed to enhancing our people-to-people, business-to-business and cultural links,” he added.
With India being a leading manufacturer of clean energy products and Australia having abundant renewable energy potential, natural endowments and skilled workforces, both sides are well positioned to mutually support clean energy transition, the Roadmap document said.
“Increased market liberalisation in India and seasonal complementarity mean we can support India’s food security and help it meet demand from its growing consumer class,” it added.
ALCHEMPro News Desk (DS)
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