India, Australia Strengthen Ties: New Report Maps Economic Cooperation
India and Australia have been fortifying their ties, with a new report underscoring opportunities for amplified cooperation. The 'Australia Economic Strategy Report', produced by the Confederation of Indian Industry (CII) in collaboration with KPMG, was launched by Mr. Piyush Goyal, Minister of Commerce & Industry and Railways, Consumer Affairs, Food and Public Distribution, Government of India.
The report, led by Ambassador Anil Wadhwa, identifies key sectors for cooperation, including refined petroleum products and pharmaceuticals. It emphasizes India's potential as a crucial partner for Australia's economic strategy, particularly in trade and investments. The report suggests strategies to bolster the bilateral trade and engagements, building on the existing people-to-people ties and shared history.
The report also provides implementation strategies to enhance cooperation across various potential areas of engagement. It underscores the need to step up bilateral trade and investments, highlighting the mutual benefits of such cooperation.
The 'Australia Economic Strategy Report' offers a roadmap for India and Australia to expand their economic ties. By focusing on key sectors and strengthening bilateral trade, both nations stand to gain significantly. The report's recommendations, if implemented, could further solidify the India-Australia relationship, already robust due to shared history and cultural commonalities.
