India, Australia hold trade talks, inks 5 pacts

India, Australia hold trade talks, inks 5 pacts

India, Australia hold trade talks, inks 5 pacts

Melbourne :
India and Australia signed five agreements to boost investments and enhance cooperation in key sectors like disability, agricultural research and education as President Ram Nath Kovind met Australian Prime minister Scott Morrison in Sydney. Kovind, the first-ever Indian head of state to visit Australia, arrived in Sydney on Wednesday on the second leg of his two nation trip.
External Affairs Ministry Spokesperson Raveesh Kumar said that during the state visit of President Kovind to Australia, five agreements were exchanged in the presence of Marise Payne, Foreign Minister of Australia and Anantkumar Hegde, Minister of State for Skill Development and Entrepreneurship, by High Commissioners of both countries.
The first agreement was for cooperation in the area of disability and to deliver services to the differently-abled. The second one was between Invest India and Austrade to facilitate bilateral investment. The third agreement was signed between the Central Mine Planning and Design Institute, Ranchi, and the Commonwealth Scientific and Research Organisation, Canberra, to foster scientific collaboration and innovation.
The fourth one between the Acharya N G Ranga Agricultural University, Guntur, and the University of Western Australia, Perth, for cooperation in agricultural research and education while the last one was between the Indraprashta Institute of Information Technology, New Delhi, and the Queensland University of Technology, Brisbane for a joint Ph.D agreement.
Following the meeting with President Kovind, Prime Minister Morrison announced the release of Australia’s response to the India Economic Strategy, a blueprint to transform the economic engagement.“This report provides a roadmap for our economic future with India,” Morrison said.
India is the world’s fastest growing major economy and offers more opportunity for Australian business over the next 20 years than any other single market, he said.The Australian government said it endorsed the report and provides in-principle support to its 20 priority recommendations.
“Our work will focus on greater economic engagement targeting 10 Indian states and 10 key sectors, while providing practical support for Australian businesses entering or expanding operations in India,” Trade Minister Simon Birmingham said.

Ranjini Trinitymirror

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