Tamil NaduAustralia to invest Rs.1,500 crore in India for first time in history

Australia to invest Rs.1,500 crore in India for first time in history

India-Australia bilateral summit to be held on Monday According to the Ministry of Foreign Affairs, Australia will announce an unprecedented investment of Rs.1,500 crore in various sectors in India.

Statement by the Ministry of External Affairs on the India-Australia Bilateral Summit

India and Australia will sign a pre-draft agreement by the end of this month. The agreement is aimed at liberalizing trade in certain goods.

The two countries are set to sign a memorandum of understanding in the field of important minerals. Australia has one of the largest lithium reserves in the world. It is also the country with the cleanest metal coal.

The deal will help increase India’s access to metallurgical coal and lithium in Australia. In this way, the infrastructure for India’s growing electric vehicles will be completed.

The two countries are set to launch a center in Canberra to promote bilateral relations. Major announcements will also be made between the two countries in the fields of aerospace, Internet operations, technology, agriculture, education and broadcasting.

The two leaders also pledged to work closely together on trade, vital minerals, migration and movement and education. Regional and international issues of mutual interest will also be discussed by the leaders.

The India-Australia Comprehensive Relationship is not only a symbol but also of significant depth and importance in the bilateral relationship. India’s stance on Ukraine will not have a negative impact on the quartet and India-Australia bilateral relations.

Following the conference, Union Coal and Mining Minister Prakash Joshi is expected to leave for Australia soon.

The conference will pave the way for new initiatives and enhance cooperation between the two countries in various fields.

The summit is expected to highlight the importance of the two countries ‘bilateral relations and the two countries’ close cooperation on regional and global issues.

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