India, Australia to Strengthen Strategic Partnership: New Report
India and Australia, two major global players, are set to bolster their strategic partnership. The Confederation of Indian Industry (CII), along with KPMG, has unveiled the 'Australia Economic Strategy Report' to guide this process. The report, launched by Mr Piyush Goyal, India's Minister of Commerce & Industry, highlights key areas for collaboration and growth.
The report suggests focusing on bilateral trade and engagements to strengthen the India-Australia relationship. Emerging sectors like labour-intensive services, defence, sports, and digital gaming present exciting opportunities for cooperation. Established sectors such as mining and resources, technology, and pharmaceuticals are also identified as key focus areas.
India can expand its exports to Australia, targeting commodities like refined petroleum products, pharmaceuticals, and commercial vehicles. The global environment offers ample opportunities for the two nations to collaborate and thrive together. Both countries benefit from long-standing ties, expanded engagements in recent times, and strong people-to-people connections.
The 'Australia Economic Strategy Report' provides a roadmap for India and Australia to enhance their strategic partnership. By targeting key sectors and commodities, and leveraging global opportunities, both nations can benefit significantly. With a shared history and commonalities, the India-Australia relationship continues to grow stronger.
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