Abstract: Australia-India ink an investment of over 280 million AUD to strengthen the economic cooperation with India.
Highlights:
- A virtual meet was held on March 21, 2022, between India and Australia.
- Australia made an investment of over 280 million AUD as part of economic cooperation with India.
- Australia returned 29 historical relics to India.
- A Centre for Australia-India Relations would be built as part of this investment.
On March 21, 2022, Australia announced an investment of 28.1 million AUD in India to strengthen ties. The investment would be used in boosting education, migration, and mobility sectors.
The announcement was made at the second virtual meet between India and Australia. The first virtual meet was held in June 2020.
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Other key investments
Australia is also investing in critical areas for the mutual benefit of India and Australia. The sectors which will receive funding from Australia are listed below.
| Sectors | Investment (in million AUD) |
| India’s key political and financial institutions | 16.6 |
| Expand business, participation, and increase the presence of Austrade in India | 8.9 |
| Australian-Indian Strategic Research Fund | 17.2 |
| Green Steel Partnership, Critical Minerals Research Partnership. and International Energy Agency | 35.7 |
| Australian Space Agency’s International Space Investment Initiative | 25.2 |
| Australian-Indian Relations Center | 28.1 |
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Australia Trade Minister in his words....
Dan Tehan, the Trade Minister of Australia, says “the Indian diaspora in Australia is young and highly educated. It has a strong presence in the STEM or Science, Technology, Engineering, and Mathematics sectors with potential in the export sector.”
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