The strategic partnership between Australia-India improves economic ties

Australia-India improves economic ties

Australia is working on improving strategic relations with India and measures taken in recent times to build its economic ties in bilateral relations with India. Former Australian Senator Lisa Singh said both countries must put efforts into improving economic ties.

“India-Australia ties are now in a sweet spot, but there is still a long way to go,” Ms. Lisa said. She opined that the mindset has to be changed as Australia thought doing business in India was difficult and calls it an outdated thought. She also recalled the recent Track 1.5 Leadership Dialogue, where business and government leaders from both sides met in Delhi.

Mining billionaire and philanthropist Andrew Forrest and tech billionaire Michael Cannon-Brookes, cofounders of the company ‘Atlassian’ were part of the Dialogue. It is a mutual benefit to both India as well as Australia. The next visit to Delhi of 25 CEOs along with Prime Minister Anthony Albanese brings a huge leap in the economic ties between Ind-Aus.

Australia earlier planned India’s Economic Strategy up to the year 2035, prepared by former Australian High Commissioner to India Peter Varghese. It outlines a 90-point action plan to promote India to the top three export markets of Australia. The partnership aims to bring India close to Australia’s strategic partnerships.

Australia has a huge reserve of critical minerals that can help India to become self-reliant on semiconductors. India can make use of the minerals to manufacture semiconductors on their land.

- Published By Team Australia News

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