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

National

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


      - 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.

Main Point :-   (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.


About Australia

PM : Anthony Albanese
Capital : Canberra
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