Australia has introduced an ambitious plan to enhance trade and investment relations with India. The roadmap focuses on four key sectors: clean energy, education and skills, agribusiness, and tourism. It outlines strategies to boost two-way investment and deepen engagement with Indian-Australian communities and businesses.
Australian Prime Minister Anthony Albanese emphasized India’s importance as a trade partner, stating that stronger ties would benefit Australia’s economy, businesses, and workforce. The plan highlights nearly 50 opportunities for collaboration in areas such as defence, sports, culture, space, and technology.
To support this initiative, the Australian government is investing USD 16 million in an Australia-India Trade and Investment Accelerator Fund to help Australian businesses expand in India. Foreign Minister Penny Wong stressed that growing economic ties with India would contribute to stability and prosperity in the Indo-Pacific region.
Trade and Tourism Minister Don Farrell highlighted the significant role of the Indian community in Australia, calling India a fast-growing market with immense potential. The government also announced an additional USD 4 million investment in the Maitri Grants programme to strengthen cultural, business, and people-to-people connections between the two nations.
Australia’s existing free trade agreement with India has already saved Australian businesses millions in tariffs and is expected to save around USD 2 billion by year-end. The two nations continue negotiations on a broader trade deal, aiming to unlock even greater economic opportunities.
