Australian PM Albanese aims to boost jobs via India ties

Canberra

Australia and India’s relationship has never been stronger, and Prime Minister Anthony Albanese is committed to strengthening it further. On Wednesday, he outlined plans to boost economic ties between the two nations, aiming to create more jobs in Australia. Albanese shared that the country has launched a new roadmap to maximize trade and investment with India.

The Australian government unveiled an ambitious initiative, investing USD 16 million in the Australia-India Trade and Investment Accelerator Fund (TIAF). This fund is designed to help Australian businesses tap into India's growing market. The roadmap identifies four key areas of growth: clean energy, education and skills, agribusiness, and tourism, which are expected to drive economic growth and create new opportunities for Australian companies.

Albanese emphasized that India is a vital partner as Australia diversifies its trade, bringing prosperity to both nations. The roadmap also highlights nearly 50 opportunities to deepen cooperation in sectors like defence, space, sports, and technology. As India is expected to become the third-largest economy by 2030, these steps will ensure long-term economic resilience and mutual benefits.

The roadmap also supports strengthening people-to-people and business connections, with an additional USD 4 million for the Maitri Grants program. Australia’s existing trade agreement with India has already saved businesses hundreds of millions, and a new free trade deal is under negotiation to open even greater doors for Australian businesses.