Australia Pledges $280 Million Investment To Bolster Ties With India

| Updated: 22 March, 2022 4:15 pm IST
PM Narendra Modi held a bilateral summit with Australian PM Scott Morrison on Monday.


NEW DELHI: Australia has announced an investment package worth $280 million to bolster cooperation with India and support jobs and businesses in both countries, the Australian government said on Tuesday following the second India-Australia Virtual Summit.

“The Morrison government is investing over $280 million to boost cooperation with India, to further grow our economic relationship and support jobs and business in both countries,” the Australian statement reads.

During the summit on Monday,  Prime Minister Narendra Modi and his Australian counterpart Scott Morrison shared their satisfaction over the outcome of the Comprehensive Strategic Partnership between the two countries.

PM Modi voiced his appreciation over the extension of Australia India Strategic Research Fund, which caters to the areas of science, technology and research and an agreement was reached between the two PMs for increased cooperation between India’s National Investment and Infrastructure Fund and Australia’s Pension and Sovereign Fund, known as Future Fund.

“Excellent discussion with my friend PM Narendra Modi on our partnership, the Indo-Pacific, Myanmar & Ukraine. New initiatives include skills & innovation, maritime security, green steel, critical minerals & a Centre for Australia-India Relations to strengthen ties even further,” Scott Morrison tweeted after the summit.

PM Modi indicated that Australia and India — two democracies — have similar aspirations and goals, Foreign Secretary Harsh Vardhan Shringla informed at a briefing that was also attended by The New Indian.

Sharing the details of the briefing, Shringla said, PM Morrison welcomed India’s G20 Presidency in 2023 and reiterated Australia’s commitment to work closely with India on economic issues and global interests. The two leaders emphasised upon the people-to-people contact among the citizens of both the states and welcomed the signing of MoUs in the critical mining sector between Khanij Bidesh India Ltd and Australia’s Critical Mineral Facilitation Office.

“The summit gave an opportunity to the two leaders to review bilateral relations in the intervening period and take stock of the Comprehensive Strategic Partnership,” Foreign Secretary Shringla informed the reporters. Australia would be the third country to hold an institutional annual summit, he added.

A partnership was also announced between Prasar Bharati, India’s government-run broadcaster, and Special Broadcasting Service of Australia for exchange of content. An arrangement is being made for daily slots for Doordarshan including DD News, it was shared.

India will match Australian AUD 10 million Pacific Island states for International Solar Alliance, it was informed.

On being asked by The New Indian, whether there has been any further query from the Australian side on joining Regional Comprehensive Economic Partnership, Foreign Secretary Shringla affirmed, “no, RCEP was not on the agenda of the summit.”

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