Australia announces investment of 16 million dollars to boost commercial ties with India

The Australian government has launched a roadmap to strengthen and diversify its trade and investment ties with India. The roadmap released by Australian Prime Minister Anthony Albanese’s office announced the country’s investment of 16 million dollars in the Australia-India Trade and Investment Accelerator Fund to boost commercial ties between the two countries.

The Australian government also announced an additional 4 million dollars investment into its Maitri Grants programme which aims to enhance people-to-people, business-to-business, and cultural ties between the two nations.

The strategy focuses on four key ‘superhighways of growth’ including clean energy, education and skills, agribusiness, and tourism. The roadmap outlines a clear pathway to enhance ongoing efforts, boost two-way investment, and collaborate with



Indian-Australian communities and businesses.

Australia has identified nearly 50 specific opportunities to focus and accelerate its engagement with India in several areas including defence industries, sports, culture, space, and technology. It is also making significant progress in negotiations for a new free trade agreement with India, which aims to further expand trade and investment opportunities for Australian businesses.

Australian Prime Minister Anthony Albanese stated that India is an essential partner as Australia diversifies its trade links to enhance prosperity for all Australians. He mentioned that the roadmap is crucial in helping Australia fully realize its potential with India, which would greatly benefit the country’s economy, businesses, jobs, and overall prosperity.