A 1500 crore worth deal was signed between both countries and focuses on bringing new initiatives into India
On Thursday a trade deal worth 1500 crore was signed between India and Australia. This was done to improve bilateral relations between the countries. The “Australia-India Economic corporations and Trade Agreement ” talks about bringing a lot of new initiatives into India, particularly Bangalore.
Australia also plans to open a new consulate in Bangalore, India’s Silicon Valley. The country also plans to open a center of Excellence for cyber and critical technology soon.
The India Economic Strategy to 2035 was launched by Sarah Kirlew, Australia’s counsel general for south India at the event. The strategy provides a 5-year plan of action that intends for the Australian Government to increase the economic integration between the two countries.
A representative of the Australian government said “We have a clear action plan to deepen our economic integration supported by substantial funding. We’re particularly excited by opportunities in the technology and space sectors”.
Ashwath Narayan C N, minister of higher education, IT & BT, Science & Technology, Skill Development, Entrepreneurship & Livelihood, was there in attendance for the event. He talked about how pleased he was that the Australian Government recognized and worked on the opportunities that Karnataka has to offer. He commented, “I encourage more Australian businesses to travel to Bengaluru and invest here and to take advantage of the highly skilled workforce and advanced ecosystem we offer”.
Minister Counsellor of Commercial, Monica Kennedy commented how education collaboration has been a long due flagship program in relations between India and Australia. This is in tandem with high-quality research and teaching relations and collaborations existing between the two countries.
Update to the ” India Economic Strategy to 2035” was launched in Australia on 22 March. This was done to prove India’s position in the export market and make it the best in Asia. The previously signed trade agreement makes most of the Indian goods entering Australia duty-free along with other measures.
Published By – Chirag Agrawal
Edited By – Architha Menon M