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Australia Commits USD 16 Million to Enhance Economic Relations with India.

National | Dated: 28 Feb 2025

The strategy focuses on four key "superhighways of growth" where Australia holds a competitive advantage: clean energy, education and skills, agribusiness, and tourism.

🎯 Key Highlights:

  • - The initiative aims to enhance cooperation in key sectors such as defence, sports, culture, space, and technology, reinforcing mutual economic resilience.
  • - An additional USD 4 million will be allocated to expand the Maitri (Friendship) Grants Program, which aims to strengthen business, cultural, and people-to-people relations between Australia and India.
  • - The roadmap was developed through extensive consultations across every Australian state and territory, along with key stakeholders in India.

💡 Other Important Facts:

  • (i) The initiative seeks to generate long-term economic benefits for both countries by fostering collaboration and investment, assisting businesses in navigating India's dynamic and growing market.
  • (ii) India is projected to become the third-largest economy by 2030. The strategy aligns with India's economic trajectory, with Australia working to strengthen ties with Indian businesses and communities, recognizing the immense trade and investment potential.

📚 Test Your Knowledge:

How much has Australia recently committed to enhance economic relations with India?

Correct Answer: USD 16 million

🚀 Quick Recap:

About Australia

  • PM : Anthony Albanese
  • Capital : Canberra