MELBOURNE, 18 December 2020: India’s Minister for Industry Mr, Piyush Goyal today launched the ‘Australia Economic Strategy’ helmed by Ambassador Anil Wadhwa, at a FICCI function in New Delhi. The report has identified 12 sectors for collaboration between the two countries.
A PIB media release says, in his speech, Mr. Goyal said that with 3B objectives: Bigger trade basket – Better trade basket – Balanced trade relationship, we can see huge & exponential growth in our trade relationship with Australia.
The Minister said “diversification of supply chains is critical for managing the risks associated with the supply of inputs, including disciplining non-transparent & opaque economies. Australia & India have been working together even more closely on the strategic front, be it Malabar exercises, QUAD groupings, the partnership on several strategic areas. He added that this close collaboration will feed into our economic partnership also in the years to come.”
“Efforts like the Australia Strategy Report will help us to align our trade & economic policies to implement this strategy report. “We can find good areas of cooperation which will also dovetail into our negotiations for a comprehensive economic partnership agreement”, he added.
The story will be updated as more information comes in.