India, Australia ink 5 pacts as Kovind meets PM Morrison
India and Australia signed five agreements today 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, capital of New South Wales. Kovind, the first-ever Indian head of state to visit Australia, arrived in Sydney yesterday on the second leg of his two-nation trip.
Agreements signed on disability services, bilateral investment, scientific innovation
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 (National Investment Promotion and Facilitation Agency) and Austrade to facilitate bilateral investment. The third agreement was signed between Ranchi-based Central Mine Planning and Design Institute and the Commonwealth Scientific and Research Organization, Canberra, to foster scientific collaboration and innovation.
Two agreements were also signed on agricultural research, joint Ph.D
The fourth agreement was between the Acharya NG Ranga Agricultural University, Guntur, and the University of Western Australia, Perth, for cooperation in agricultural-research. The last was between the Indraprastha Institute of Information Technology, New Delhi, and the Queensland University of Technology, Brisbane for a joint-Ph.D agreement. They were signed in the presence of Australia's Foreign Minister and India's Minister of State for Skill Development.
India offers more opportunity than any other single market: Morrison
Following the meeting with Kovind, 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.
Australia to focus on 10 Indian states, key-sectors for business
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. Australia also pinpointed the initial implementation plan with key actions for next one year.
Agreements to be made for investments, food partnership, agri-tech services
The key actions will include agreements forged between Austrade and Invest India, the establishment of an Australia-India Food Partnership, opening up new opportunities for agri-tech and service companies and Australia-India Strategic Research Fund grants of up to Australian dollar 500,000. The fund is designed to help researchers solve the challenges shared by both nations, including energy storage, marine science, and plant genomics.
Other plans include more direct flights, expanding mining partnership
Other actions include engagement with airlines to increase direct flights through Australia-India air services agreement and the expansion of the Australia-India Mining Partnership at Indian School of Mines, connecting Australian companies to India's mineral-rich northeastern states supported by the new Consulate-General in Kolkata. Ministers across education, agribusiness, resources and tourism will oversee progress of the government's response and ongoing implementation of India Economic Strategy.
Kovind, accorded ceremonial Guard of Honor, will visit Melbourne tomorrow
Morrison, along with ministers for trade and resources, will join Kovind at the launch of the Australian chapter of the Confederation of Indian Industry India Business Forum, which will serve as a platform for networking and policy advocacy for Indian businesses in Australia. Kovind, who was accorded a ceremonial Guard of Honor by Governor General Peter Cosgrove in Sydney, will be visiting Melbourne tomorrow.
