MELBOURNE, 26 February, 2025: Australia’s Prime Minister Anthony Albanese today launched a new roadmap for economic engagement with India, on the eve of this year’s federal election.
The roadmap focuses on 50 opportunities, to be supported by a ‘Australia-India Trade and Investment Accelerator Fund with a provision for $ 16 million. Added to this is will be $ 4 million funding for Maitri (friendship) grants program for people to people, business to business, and for cultural links.
In his launch speech, PM Anthony Albanese said, both countries benefit from economic engagement. Speaking on the Australian-Indian Diaspora, he said, their role is extraordinary.
Senator the Hon Penny Wong, Minister for Foreign Affairs, Senator the Hon Don Farrell, Minister for Trade and Tourism and Tim Watts MP, Assistant Minister for Foreign Affairs were also there among others at the ‘New Roadmap for Australia’s Economic Engagement with India’ launch at the Deakin University Burwood Corporate Centre, Victoria.
In her address Senator Penny Wong commending the role of the Indian Diaspora in Australian society and ties with India said, “We need you.” About the Indo-Pacific, she said, both countries want it to be strong and peaceful.”
The Roadmap talks of ‘Superhighways of Economic Growth’ with Clean energy, Education & Skills, Agribusiness, and Tourism as potential sectors of significance. Major Economic Roads, in the Roadmap, are Investment, technology & IT, Sports, Culture & the arts, Resources & METS, Defence Industries, Space and Health.
The Action Plan being – Growing and diversifying the Australia-India economic relationship, Accelerating efforts toward the New Zero economy, including critical minerals, and Boosting education and skills partnership.
The 134 pages Roadmap charts a blueprint for enhancing economic relations between Australia-India to the next higher level. One should not forget Australia’s need for more skilled migrants from India, along with an eye on the world’s most populated nation’s market potential. The free trade pact is there and Australia wants it to go further and some new agreements are in the offing.
The ‘Australian-Indian Communities’ (page 114) reveals the logistics of the Indian Diaspora in Australia. ” There are almost a million people in Australia, or 4 percent of the population, with Indian heritage”, and the highest 38% are in Victoria and 31 percent in NSW. And, there is much more information. While one can understand the economic and social relevance of the Indian Diaspora, their rising electoral muscle cannot be ignored by any political party. It is a truism their missing political representation needs to be addressed.
The Roadmap launch event was organised by the Centre for Australia India Relations – a national platform established by the Australian Government in 2023 to support and facilitate greater collaboration and engagement with India.
The Centre works across all levels of government, industry, academia and civil society to build greater understanding of the Australia-India relationship and the opportunities flowing from our burgeoning connections.
The launch was attended by the Indian High Commissioner, Gopal Bagley, Indian Consul General, Melbourne, Dr. Sushil Kumar, MPs, Ministers and Diaspora leaders among others.
